Bloomberg by the Numbers: $4 Trillion
Photograph by Pete Marovich/Bloomberg
Janet Yellen, vice chairman of the U.S. Federal Reserve and U.S. President Barack Obama’s nominee as chairman of the Federal Reserve, testifies before a Senate Banking Committee confirmation hearing in Washington, D.C., on Nov. 14, 2013.
That’s what the Federal Reserve’s balance sheet is poised to exceed.
The holdings of $4 trillion are prompting warnings that the Fed’s record easing is inflating asset-price bubbles and drawing renewed lawmaker scrutiny just as Janet Yellen prepares to take charge, as Bloomberg’s Jeff Kearns reports.
The Fed’s assets rose to a record $3.99 trillion on Dec. 11, up from $2.82 trillion in September 2012, when it embarked on a third round of bond buying.
Fed policy makers meet today and tomorrow to decide whether to start curtailing the $85 billion monthly pace of purchases.
The Senate plans to vote this week on President Barack Obama’s nomination of Yellen, currently vice chair, to lead the Federal Reserve as well as his choice for a new Internal Revenue Service commissioner.
Bloomberg’s Kathleen Hunter reports today on the Senate confirmations.