Discussion Paper
The Central Bank Balance-Sheet Trilemma
Abstract: Between December 2005 and December 2025, the Federal Reserve's balance sheet grew from about $800 billion to roughly $6.5 trillion—an increase from around 6 percent to 21 percent of GDP. This expansion primarily reflected two policy decisions by the FOMC.
https://doi.org/10.17016/2380-7172.3979
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Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2026-01-14
Number: 2026-01-14