U.S. Fed balance sheet increases to record $6.7 trillion

• The Federal Reserve’s balance sheet increased to a record $6.7 trillion this week as the central bank used its nearly unlimited buying power to soak up assets to keep markets functioning amid an abrupt economic free fall due to the coronavirus pandemic.
• It is now the equivalent of roughly 31% of the size of the U.S. economy before the crisis struck, and will certainly grow larger in the weeks ahead as the Fed keeps piling on assets and the economy shrinks.

(Source: Reuters)