Fed's balance sheet exceeds $8 trillion for the first time

The Federal Reserve's balance sheet exceeded $8 trillion for the first time after the central bank took broad measures last year to curb economic damage from the pandemic.

The Federal Reserve's balance sheet has nearly doubled since the outbreak of the epidemic in the United States in March 2020, according to weekly statistics released by the Federal Reserve on Thursday.

The Federal Reserve announced last week that it would begin selling corporate bonds and exchange-traded notes it had purchased during the pandemic through an emergency lending facility.

But the Fed's monetary policy committee has pledged to continue buying U.S. Treasury and mortgage bonds at a pace of about $120 billion per month until the committee makes substantial progress toward its maximum employment and price stability goals.

Cryptocurrency investors have been watching to see if and when the Federal Reserve will begin to taper its easy monetary policy.

A popular narrative in the cryptocurrency market is to view Bitcoin as a hedge against inflation, especially in the face of trillions of dollars in monetary stimulus that have been pumped into financial markets over the past year.

Before the 2008 financial crisis, the Fed's balance sheet was less than $1 trillion.

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