Fed assets Figure 3 4.8 FED'S ASSETS QE2 QE3 QE4 6/1544 (trillion dollars) 4.0 2.8 Total Assets US Treasuries cy Debt varden. com 2008 2009 20117 2012 2015 lys $1. 24tn in mortgage securities. QE2(announced 11/3/10)= Fed buys $600bn in Treasu bn/month in mortgage securities(to infinity and yond). QE4(announced 12/12/12)=Fed buys $45bn/month Source: Federal reserve board Figure 4. FED'S 2.4 ASSETS QE3 & QE4 r(trillion dollars) 2.0 US Treasury Securities 18 18 Agency Debt 16 2014 daily figures for weeks ending Wednesday nounced 1 1/25/08)=Fed buys $1.24tn in mortgage securities. QE2 (announced 11/3/10)=Fed buys $600bn in Treasuries. QE3(announced 9/13/12)=Fed buys $40bn/month in mortgage securities(to infinity and beyond). QE4(announced 12/12/12)= Fed buys $45bn/month in Trea ource: Federal Reserve board Page 3/ June 22, 2016/ Global Economic Briefing: Central Bank Balance Sheets Yardeni research www.yard Inc2008 2009 2010 2011 2012 2013 2014 2015 2016 .4 .8 1.2 1.6 2.0 2.4 2.8 3.2 3.6 4.0 4.4 4.8 .4 .8 1.2 1.6 2.0 2.4 2.8 3.2 3.6 4.0 4.4 4.8 QE1 QE2 QE3 & QE4 6/15 FED’S ASSETS* (trillion dollars) Total Assets US Treasuries + Agency Debt + MBS Note: QE1 (announced 11/25/08) = Fed buys $1.24tn in mortgage securities. QE2 (announced 11/3/10) = Fed buys $600bn in Treasuries. QE3 (announced 9/13/12) = Fed buys $40bn/month in mortgage securities (to infinity and beyond). QE4 (announced 12/12/12) = Fed buys $45bn/month in Treasuries. * Average of daily figures for weeks ending Wednesday. Source: Federal Reserve Board. yardeni.com Figure 3. 2008 2009 2010 2011 2012 2013 2014 2015 2016 .0 .2 .4 .6 .8 1.0 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 .0 .2 .4 .6 .8 1.0 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 QE1 QE2 QE3 & QE4 6/15 FED’S ASSETS* (trillion dollars) Agency Debt + MBS US Treasury Securities Note: QE1 (announced 11/25/08) = Fed buys $1.24tn in mortgage securities. QE2 (announced 11/3/10) = Fed buys $600bn in Treasuries. QE3 (announced 9/13/12) = Fed buys $40bn/month in mortgage securities (to infinity and beyond). QE4 (announced 12/12/12) = Fed buys $45bn/month in Treasuries. * Average of daily figures for weeks ending Wednesday. Source: Federal Reserve Board. yardeni.com Figure 4. Fed Assets Page 3 / June 22, 2016 / Global Economic Briefing: Central Bank Balance Sheets www.yardeni.com Yardeni Research, Inc