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- The Federal Reserve's campaign to reduce its balance sheet hit the $1 trillion mark last week.
- The Fed has been rolling off $100 billion in Treasury and mortgage bonds each month since last year.
- Despite the progress, the Fed's total assets are still $3.78 trillion above pre-pandemic levels.
The Federal Reserve reached a major milestone last week after the campaign to reduce the total assets held on its balance sheet hit the $1 trillion mark.
The Fed now has total assets of $7.96 trillion, below its peak of $8.97 trillion reached in early 2022.
In its bid to tame inflation, the Fed launched a balance sheet reduction program in tandem with its ongoing interest rate hikes.