BREAKING: The Fed’s balance sheet expanded +$3 billion in the week ending November 4th, to $6.75 trillion, its 3rd-highest level since mid-March 2025. Total assets have surged +$212 billion since the December 2025 low. Over this period, Treasury holdings have risen +$390 billion, to $4.58 trillion, their highest since March 2024. At the same time, holdings of Mortgage-Backed Securities have declined -$170 billion, to $1.88 trillion, their lowest since June 2020. The Fed's balance sheet stands now +$2.99 trillion, or +80%, above pre-pandemic levels. The Fed's balance sheet is growing again.