FED · USD•Est. 1913 · Washington, D.C.•Mandate Target: 2.0% (PCE Price Index)
Federal Reserve System (FED) - Monetary Ledger
Dual mandate: maximum employment, stable prices, and moderate long-term interest rates. Explore all six canonical primary-source time series for United States (US Dollar, USD): policy rate history, CPI inflation vs. target, consolidated central bank assets in USD and % of GDP, international gold & FX reserves, and real effective exchange rates.
Six Canonical Federal Reserve Datasets
Central Bank Interest Rates1954–2026
Federal Funds Effective Rate (United States)
Latest (Sep 2026)3.88%
Record High22.00% (1980)
Central Bank Balance Sheets (USD)1914–2026
Federal Reserve Balance Sheet Total Assets (USD)
Latest (Jul 2026)$6,738.19B
Record High$8,939.20B (2022)
Central Bank Assets Share of GDP1947–2026
Federal Reserve Balance Sheet Share of GDP (United States)
Latest (2026 Q2)21.24%
Record High36.91% (2021)
Consumer Price Inflation Rates & Targets1914–2026
United States Inflation Rate (CPI YoY %)
Latest (Aug 2026)3.40%
Record High23.67% (1920)
Foreign Exchange & Gold Reserves1960–2025
United States Foreign Exchange & Gold Reserves (USD)
Latest (2025)$1,385.45B
Record High$1,385.45B (2025)
Real Effective Exchange Rates (REER)1964–2026
US Dollar (USD) Real Effective Exchange Rate (REER)
Latest (Sep 2026)107.11
Record High118.88 (1964)
Federal Reserve Policy Rate & Balance Sheet Trajectories
Federal Reserve · USD
Federal Funds Effective Rate (United States) (1954-2026)
% p.a.Drag to pan, scroll to zoom, or toggle between full archive (1954–2026) and recent monthly observations.
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Source: Bank for International Settlements (BIS) & Federal Reserve System (WS_CBPOL:M:US)
Latest: 3.88% (Sep 2026)
· Real Rate: +0.48%
Federal Reserve · USD
Federal Reserve Balance Sheet Total Assets (USD) (1914-2026)
USD BillionsDrag to pan, scroll to zoom, or toggle between full archive (1914–2026) and recent monthly observations.
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Source: Bank for International Settlements (BIS) (WS_CBTA:M:US:B:XDC:USD:B)
Latest: $6,738.19B (Jul 2026)
Federal Reserve Bilateral Rate Differentials
FED vs. ECB (USD/EUR)
Federal Reserve vs. ECB Interest Rate Differential
Current Spread:+138 bps
FED vs. BOJ (USD/JPY)
Federal Reserve vs. Bank of Japan Interest Rate Differential
Current Spread:+263 bps
FED vs. BOE (USD/GBP)
Federal Reserve vs. Bank of England Interest Rate Differential
Current Spread:+13 bps
RBA vs. FED (AUD/USD)
RBA vs. Federal Reserve Cash Rate Differential
Current Spread:+72 bps
BOC vs. FED (CAD/USD)
Bank of Canada vs. Federal Reserve Interest Rate Spread
Current Spread:-163 bps
FED vs. PBOC (USD/CNY)
Federal Reserve vs. China PBoC Interest Rate Spread
Current Spread:+88 bps
FED vs. RBI (USD/INR)
Federal Reserve vs. India RBI Repo Rate Differential
Current Spread:-137 bps
FED vs. BCB (USD/BRL)
Federal Reserve vs. Brazil SELIC Interest Rate Differential
Current Spread:-987 bps
FED vs. BOK (USD/KRW)
Federal Reserve vs. South Korea Base Rate Spread
Current Spread:+88 bps
FED vs. BANXICO (USD/MXN)
Federal Reserve vs. Mexico Banxico Interest Rate Spread
Current Spread:-262 bps
Consolidated Annual Monetary Ledger - Federal Reserve System
Annual policy rate, headline CPI, ex-post real rate, balance sheet assets ($B & % GDP), reserves ($B), and REER index
| Year | Policy Rate | CPI (YoY) | Real Rate | Assets ($B USD) | Assets (% GDP) | Reserves ($B) | REER (2020=100) |
|---|---|---|---|---|---|---|---|
| 2026 | 3.88% | 3.30% | +0.58% | $6,738.19B | 21.24% | - | 106.96 |
| 2025 | 3.62% | 2.69% | +0.93% | $6,640.62B | 21.59% | $1,385.45B | 109.49 |
| 2024 | 4.38% | 2.95% | +1.43% | $6,885.96B | 23.50% | $910.04B | 109.40 |
| 2023 | 5.38% | 4.14% | +1.24% | $7,712.78B | 27.73% | $773.43B | 106.96 |
| 2022 | 4.38% | 8.01% | -3.63% | $8,551.17B | 32.82% | $706.64B | 106.87 |
| 2021 | 0.12% | 4.69% | -4.57% | $8,757.46B | 36.91% | $716.15B | 97.83 |
| 2020 | 0.12% | 1.24% | -1.12% | $7,363.35B | 34.45% | $628.37B | 100.00 |
| 2019 | 1.62% | 1.81% | -0.19% | $4,165.59B | 19.34% | $516.70B | 98.56 |
| 2018 | 2.38% | 2.44% | -0.06% | $4,075.64B | 19.73% | $449.91B | 95.76 |
| 2017 | 1.38% | 2.13% | -0.75% | $4,448.68B | 22.68% | $451.29B | 96.80 |
| 2016 | 0.62% | 1.26% | -0.64% | $4,451.45B | 23.67% | $405.94B | 97.17 |
| 2015 | 0.38% | 0.12% | +0.26% | $4,486.59B | 24.52% | $383.73B | 93.31 |
| 2014 | 0.12% | 1.62% | -1.50% | $4,497.66B | 25.54% | $434.42B | 84.14 |
| 2013 | 0.12% | 1.46% | -1.34% | $4,032.57B | 23.89% | $448.51B | 82.24 |
| 2012 | 0.12% | 2.07% | -1.95% | $2,907.30B | 17.89% | $574.27B | 82.00 |
| 2011 | 0.12% | 3.15% | -3.03% | $2,926.09B | 18.76% | $537.27B | 80.11 |
| 2010 | 0.12% | 1.64% | -1.52% | $2,420.57B | 16.08% | $488.93B | 84.27 |
| 2009 | 0.12% | -0.34% | +0.46% | $2,234.07B | 15.43% | $404.10B | 88.23 |
| 2008 | 0.12% | 3.85% | -3.73% | $2,239.46B | 15.16% | $294.05B | 84.59 |
| 2007 | 4.25% | 2.85% | +1.40% | $890.66B | 6.15% | $277.55B | 88.51 |
| 2006 | 5.25% | 3.24% | +2.01% | $869.99B | 6.30% | $221.09B | 92.87 |
| 2005 | 4.25% | 3.39% | +0.86% | $847.70B | 6.50% | $188.26B | 93.68 |
| 2004 | 2.25% | 2.68% | -0.43% | $810.94B | 6.64% | $190.46B | 95.32 |
| 2003 | 1.00% | 2.27% | -1.27% | $771.55B | 6.73% | $184.02B | 99.80 |
| 2002 | 1.25% | 1.59% | -0.34% | $732.06B | 6.70% | $157.76B | 106.40 |
| 2001 | 1.75% | 2.83% | -1.08% | $662.30B | 6.26% | $130.08B | 106.50 |
| 2000 | 6.50% | 3.38% | +3.12% | $619.72B | 6.05% | $128.40B | 100.79 |
| 1999 | 5.50% | 2.19% | +3.31% | $668.91B | 6.95% | $136.45B | 97.46 |
| 1998 | 4.75% | 1.55% | +3.20% | $546.32B | 6.03% | $146.01B | 98.50 |
| 1997 | 5.50% | 2.34% | +3.16% | $517.85B | 6.04% | $134.84B | 91.17 |
| 1996 | 5.25% | 2.93% | +2.32% | $475.00B | 5.88% | $160.66B | 86.92 |
| 1995 | 5.50% | 2.81% | +2.69% | $452.56B | 5.92% | $176.00B | 84.79 |
| 1994 | 5.50% | 2.61% | +2.89% | $439.98B | 6.04% | $163.59B | 86.54 |
| 1993 | 3.00% | 2.96% | +0.04% | $408.58B | 5.96% | $164.62B | 78.09 |
| 1992 | 3.00% | 3.03% | -0.03% | $369.09B | 5.66% | $147.53B | 76.28 |
| 1991 | 4.00% | 4.25% | -0.25% | $346.62B | 5.63% | $159.27B | 77.86 |
| 1990 | 7.00% | 5.39% | +1.61% | $319.19B | 5.35% | $173.09B | 79.88 |
| 1989 | 8.25% | 4.83% | +3.42% | $310.26B | 5.50% | $168.58B | 82.31 |
| 1988 | 8.69% | 4.08% | +4.61% | $293.99B | 5.61% | $144.18B | 80.18 |
| 1987 | 6.81% | 3.66% | +3.15% | $273.42B | 5.63% | $161.74B | 86.43 |
| 1986 | 5.88% | 1.91% | +3.97% | $266.03B | 5.81% | $139.88B | 95.33 |
| 1985 | 7.75% | 3.55% | +4.20% | $236.05B | 5.44% | $117.98B | 110.95 |
| 1984 | 8.74% | 4.30% | +4.44% | $206.82B | 5.12% | $104.86B | 107.23 |
| 1983 | 9.92% | 3.22% | +6.70% | $199.55B | 5.49% | $123.11B | 103.33 |
| 1982 | 11.20% | 6.16% | +5.04% | $187.66B | 5.61% | $143.44B | 99.32 |
| 1981 | 13.13% | 10.35% | +2.78% | $178.23B | 5.56% | $123.91B | 89.64 |
| 1980 | 22.00% | 13.58% | +8.42% | $168.75B | 5.91% | $171.41B | 83.99 |
| 1979 | 14.77% | 11.22% | +3.55% | $158.23B | 6.02% | $143.26B | 82.49 |
| 1978 | 10.84% | 7.62% | +3.22% | $157.78B | 6.71% | $69.45B | 81.55 |
| 1977 | 6.53% | 6.50% | +0.03% | $146.03B | 7.01% | $53.37B | 88.82 |
| 1976 | 4.17% | 5.75% | -1.58% | $134.67B | 7.19% | $44.16B | 90.45 |
| 1975 | 5.37% | 9.19% | -3.82% | $120.61B | 7.16% | $43.15B | 89.55 |
| 1974 | 3.87% | 11.03% | -7.16% | $115.10B | 7.45% | $55.70B | 90.99 |
| 1973 | 9.83% | 6.16% | +3.67% | $103.66B | 7.27% | $33.70B | 94.81 |
| 1972 | 5.50% | 3.27% | +2.23% | $93.52B | 7.31% | $20.57B | 103.65 |
| 1971 | 3.00% | 4.30% | -1.30% | $97.20B | 8.34% | $14.83B | 111.88 |
| 1970 | 3.00% | 5.84% | -2.84% | $84.53B | 7.88% | $15.24B | 115.11 |
| 1969 | 5.00% | 5.46% | -0.46% | $80.75B | 7.94% | $17.03B | 115.66 |
| 1968 | 4.00% | 4.27% | -0.27% | $75.93B | 8.07% | $17.86B | 114.41 |
| 1967 | 4.50% | 2.77% | +1.73% | $72.40B | 8.42% | $14.90B | 112.88 |
| 1966 | 5.00% | 3.01% | +1.99% | $67.56B | 8.31% | $14.95B | 113.85 |
| 1965 | 4.63% | 1.58% | +3.05% | $63.39B | 8.54% | $15.50B | 115.05 |
| 1964 | 4.00% | 1.28% | +2.72% | $60.14B | 8.79% | $16.73B | 116.80 |
| 1963 | 3.25% | 1.24% | +2.01% | $56.18B | 8.81% | $16.88B | - |
| 1962 | 3.00% | 1.20% | +1.80% | $53.00B | 8.78% | $17.25B | - |
| 1961 | 2.50% | 1.07% | +1.43% | $52.81B | 9.39% | $18.83B | - |
| 1960 | 3.00% | 1.46% | +1.54% | $52.44B | 9.67% | $19.66B | - |
| 1959 | 4.00% | 1.01% | +2.99% | $53.98B | 10.35% | - | - |
| 1958 | 2.38% | 2.73% | -0.35% | $53.10B | 11.03% | - | - |
| 1957 | 3.00% | 3.34% | -0.34% | $53.03B | 11.19% | - | - |
| 1956 | 3.00% | 1.52% | +1.48% | $52.68B | 11.72% | - | - |
| 1955 | 2.50% | -0.28% | +2.78% | $52.25B | 12.28% | - | - |
| 1954 | 1.44% | 0.32% | +1.12% | $51.39B | 13.16% | - | - |
| 1953 | - | 0.82% | - | $52.47B | 13.48% | - | - |
| 1952 | - | 2.29% | - | $52.56B | 14.31% | - | - |
| 1951 | - | 7.88% | - | $50.01B | 14.42% | - | - |
| 1950 | - | 1.09% | - | $46.45B | 15.49% | - | - |
| 1949 | - | -0.94% | - | $45.39B | 16.66% | - | - |
| 1948 | - | 7.74% | - | $50.04B | 18.23% | - | - |
| 1947 | - | 14.65% | - | $47.66B | 19.09% | - | - |
| 1946 | - | 8.43% | - | $45.01B | - | - | - |
| 1945 | - | 2.27% | - | $44.85B | - | - | - |
| 1944 | - | 1.64% | - | $40.20B | - | - | - |
| 1943 | - | 6.00% | - | $34.25B | - | - | - |
| 1942 | - | 10.97% | - | $28.77B | - | - | - |
| 1941 | - | 5.11% | - | $24.35B | - | - | - |
| 1940 | - | 0.72% | - | $23.26B | - | - | - |
| 1939 | - | -1.30% | - | $18.88B | - | - | - |
| 1938 | - | -2.01% | - | $15.51B | - | - | - |
| 1937 | - | 3.73% | - | $12.85B | - | - | - |
| 1936 | - | 1.03% | - | $12.45B | - | - | - |
| 1935 | - | 2.56% | - | $11.03B | - | - | - |
| 1934 | - | 3.51% | - | $8.39B | - | - | - |
| 1933 | - | -5.09% | - | $6.99B | - | - | - |
| 1932 | - | -10.30% | - | $6.11B | - | - | - |
| 1931 | - | -8.94% | - | $5.99B | - | - | - |
| 1930 | - | -2.65% | - | $5.20B | - | - | - |
| 1929 | - | 0.00% | - | $5.46B | - | - | - |
| 1928 | - | -1.15% | - | $5.44B | - | - | - |
| 1927 | - | -1.92% | - | $5.33B | - | - | - |
| 1926 | - | 0.94% | - | $5.22B | - | - | - |
| 1925 | - | 2.44% | - | $5.18B | - | - | - |
| 1924 | - | 0.45% | - | $5.10B | - | - | - |
| 1923 | - | 1.80% | - | $5.17B | - | - | - |
| 1922 | - | -6.10% | - | $5.31B | - | - | - |
| 1921 | - | -10.85% | - | $5.15B | - | - | - |
| 1920 | - | 15.90% | - | $6.27B | - | - | - |
| 1919 | - | 15.31% | - | $6.33B | - | - | - |
| 1918 | - | 17.26% | - | $5.25B | - | - | - |
| 1917 | - | 17.80% | - | $3.10B | - | - | - |
| 1916 | - | 7.64% | - | $0.77B | - | - | - |
| 1915 | - | 0.92% | - | $0.49B | - | - | - |
| 1914 | - | 1.35% | - | $0.28B | - | - | - |