The Fed's balance sheet has flattened over the past six weeks after three years of runoff, while the ECB's keeps contracting -- launch edition of a new recurring Report
The Federal Reserve's balance sheet has contracted 24.8% from its April 2022 peak ($8.97 trillion) to $6.74 trillion as of 15 July 2026; the ECB's has contracted further in percentage terms, 32.4% from its June 2022 peak (EUR 8.84 trillion) to EUR 5.97 trillion as of 10 July 2026. Both central banks have been shrinking their balance sheets for over three years, but the most recent six weeks show a genuine divergence: the Fed's total assets were essentially flat (a marginal increase from $6.71tn to $6.74tn), while the ECB's continued contracting (from EUR 6.14tn to EUR 5.97tn, -2.7%). This is the launch edition of a Report intended to track both balance sheets on a recurring basis.
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