![The Monetary Wheels Go Round & Round](/content/dam/mellondotcom/insights/images/headers/the-monetary-wheels-go-round-and-round-large-insight-tangram1.jpg)
Authors & Contributors
One year into the pandemic’s crisis response, the Federal Reserve has boosted the assets on its balance sheet by $3.4 trillion, from $4.2 trillion to $7.6 trillion, the latter representing 35 percent of nominal GDP. Reserves held by depository institutions have nowhere near followed up, increasing “only” $1.9 trillion in the past year.