European Central Bank expanded its money supply in March 2020, and kept doing so over the following months.
The Federal Reserve's balance sheet ballooned following its announcement to carry out quantitative easing to increase the liquidity of U.S. banks. The balance sheet of the Federal Reserve reached around 8.93 trillion U.S. dollars as of June 21, 2022. This measure was taken to increase the money supply and stimulate economic growth in the wake of the damage caused by the COVID-19 pandemic. The Federal Reserve was not the only institution that implemented an expansionary monetary policy in response to the pandemic. For instance, also the Size of the Federal Reserve's balance sheet since quantitative easing (QE) measures were introduced from March 2020 to June 2022 (in trillion U.S. dollars)
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Federal Reserve. (June 23, 2022). Size of the Federal Reserve's balance sheet since quantitative easing (QE) measures were introduced from March 2020 to June 2022 (in trillion U.S. dollars) [Graph]. In Statista. Retrieved July 04, 2022, from https://www.statista.com/statistics/1121416/quantitative-easing-fed-balance-sheet-coronavirus/
Federal Reserve. "Size of the Federal Reserve's balance sheet since quantitative easing (QE) measures were introduced from March 2020 to June 2022 (in trillion U.S. dollars)." Chart. June 23, 2022. Statista. Accessed July 04, 2022. https://www.statista.com/statistics/1121416/quantitative-easing-fed-balance-sheet-coronavirus/
Federal Reserve. (2022). Size of the Federal Reserve's balance sheet since quantitative easing (QE) measures were introduced from March 2020 to June 2022 (in trillion U.S. dollars). Statista. Statista Inc.. Accessed: July 04, 2022. https://www.statista.com/statistics/1121416/quantitative-easing-fed-balance-sheet-coronavirus/
Federal Reserve. "Size of The Federal Reserve's Balance Sheet since Quantitative Easing (Qe) Measures Were Introduced from March 2020 to June 2022 (in Trillion U.S. Dollars)." Statista, Statista Inc., 23 Jun 2022, https://www.statista.com/statistics/1121416/quantitative-easing-fed-balance-sheet-coronavirus/
Federal Reserve, Size of the Federal Reserve's balance sheet since quantitative easing (QE) measures were introduced from March 2020 to June 2022 (in trillion U.S. dollars) Statista, https://www.statista.com/statistics/1121416/quantitative-easing-fed-balance-sheet-coronavirus/ (last visited July 04, 2022)