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Vol. I, No. 13 Afternoon Edition

The Fed Gazette

A civic journal of money and credit

Live Federal Reserve rates, FOMC decisions, speeches, and Treasury data, with every figure copied from the agency that published it.

Money and the balance sheet

Monetary Base: Total Chart and Latest Federal Reserve Data

The total monetary base was $5,411.6 billion for August 2026, according to the Board of Governors of the Federal Reserve System, via GOVSPENDING.ORG.

Source: Board of Governors of the Federal Reserve System (H.3 Aggregate Reserves of Depository Institutions and the Monetary Base), via GOVSPENDING.ORG, BOGMBASE, Monetary base, total, billions of dollars, monthly · Published · Updated

The total monetary base, the currency in circulation and the reserve balances that banks hold at the Federal Reserve, with a chart, what changed since last month, and a plain explanation. The figure is copied as published, in billions of dollars.

  • Monetary base, total $5,411.6 billion August 2026 Lower than the previous print

Monetary Base chart

Monetary base over time

Monthly total monetary base, in billions of dollars as the feed names the unit. Each point is a stored monthly print.

$5,300B$5,400B$5,500B$5,600B$5,700BOct ’25Jan ’26Apr ’26Jul ’26$5,300B$5,400B$5,500B$5,600B$5,700BOct ’25Jan ’26Apr ’26Jul ’26$5,300B$5,400B$5,500B$5,600B$5,700BOct ’25Jan ’26Apr ’26Jul ’26$5,300B$5,400B$5,500B$5,600B$5,700BOct ’25Jan ’26Apr ’26Jul ’26
$5,000B$5,500B$6,000B$6,500B20222023202420252026$5,000B$5,500B$6,000B$6,500B20222023202420252026$5,000B$5,500B$6,000B$6,500B20222023202420252026$5,000B$5,500B$6,000B$6,500B20222023202420252026
$3,000B$4,000B$5,000B$6,000B$7,000B20182020202220242026$3,000B$4,000B$5,000B$6,000B$7,000B20182020202220242026$3,000B$4,000B$5,000B$6,000B$7,000B20182020202220242026$3,000B$4,000B$5,000B$6,000B$7,000B20182020202220242026
$0B$2,000B$4,000B$6,000B$8,000B19601975199020052020$0B$2,000B$4,000B$6,000B$8,000B1960197019801990200020102020$0B$2,000B$4,000B$6,000B$8,000B19601965197019751980198519901995200020052010201520202025$0B$2,000B$4,000B$6,000B$8,000B19601965197019751980198519901995200020052010201520202025
  • Monetary base, total $5,411.6 billion Aug 1, 2026

Source: Board of Governors of the Federal Reserve System (H.3 Aggregate Reserves of Depository Institutions and the Monetary Base), via GOVSPENDING.ORG, BOGMBASE, Monetary base, total, billions of dollars, monthly · as of · retrieved

More series in the data library
Data
Monetary base over time, the last print of each calendar quarter (a sample of the plotted line)
PeriodMonetary base, total
March 1959$49.7 billion
June 1959$50.3 billion
September 1959$50.7 billion
December 1959$51.5 billion
March 1960$49.5 billion
June 1960$50 billion
September 1960$49.9 billion
December 1960$49.8 billion
March 1961$48.4 billion
June 1961$48.9 billion
September 1961$49.6 billion
December 1961$51.3 billion
March 1962$50 billion
June 1962$50.9 billion
September 1962$51.3 billion
December 1962$52.3 billion
March 1963$51.2 billion
June 1963$52.2 billion
September 1963$52.9 billion
December 1963$54.9 billion
March 1964$53.8 billion
June 1964$54.9 billion
September 1964$55.9 billion
December 1964$57.7 billion
March 1965$56.7 billion
June 1965$57.8 billion
September 1965$58.6 billion
December 1965$61 billion
March 1966$59.9 billion
June 1966$61.1 billion
September 1966$62.4 billion
December 1966$64.2 billion
March 1967$63.2 billion
June 1967$64 billion
September 1967$65.2 billion
December 1967$67.8 billion
March 1968$67.5 billion
June 1968$68.9 billion
September 1968$70 billion
December 1968$73.1 billion
March 1969$71.8 billion
June 1969$73.5 billion
September 1969$73.8 billion
December 1969$76.8 billion
March 1970$75.3 billion
June 1970$76.9 billion
September 1970$78.7 billion
December 1970$81 billion
March 1971$80.8 billion
June 1971$82.9 billion
September 1971$84.4 billion
December 1971$86.8 billion
March 1972$86.7 billion
June 1972$88.9 billion
September 1972$90.2 billion
December 1972$91.4 billion
March 1973$91.1 billion
June 1973$93.7 billion
September 1973$96.2 billion
December 1973$100.1 billion
March 1974$99.6 billion
June 1974$103.6 billion
September 1974$105.3 billion
December 1974$108.6 billion
March 1975$105.7 billion
June 1975$108.4 billion
September 1975$109.2 billion
December 1975$113.1 billion
March 1976$111.3 billion
June 1976$114.4 billion
September 1976$115.6 billion
December 1976$120.3 billion
March 1977$118.7 billion
June 1977$121.8 billion
September 1977$124.4 billion
December 1977$129.9 billion
March 1978$129.1 billion
June 1978$133.6 billion
September 1978$136.2 billion
December 1978$144.7 billion
March 1979$142.3 billion
June 1979$145.9 billion
September 1979$149.6 billion
December 1979$156.7 billion
March 1980$155 billion
June 1980$158.9 billion
September 1980$159.4 billion
December 1980$163.4 billion
March 1981$159.8 billion
June 1981$163.9 billion
September 1981$164.7 billion
December 1981$170.7 billion
March 1982$166.2 billion
June 1982$171.7 billion
September 1982$173.4 billion
December 1982$180.7 billion
March 1983$177.3 billion
June 1983$183.3 billion
September 1983$184.9 billion
December 1983$192.2 billion
March 1984$189.1 billion
June 1984$195.7 billion
September 1984$197.9 billion
December 1984$204.8 billion
March 1985$202.7 billion
June 1985$210.2 billion
September 1985$214.7 billion
December 1985$224.7 billion
March 1986$221.4 billion
June 1986$230.1 billion
September 1986$235.1 billion
December 1986$248.6 billion
March 1987$244.8 billion
June 1987$252.9 billion
September 1987$256.3 billion
December 1987$266.9 billion
March 1988$263.4 billion
June 1988$273.1 billion
September 1988$275.2 billion
December 1988$283.8 billion
March 1989$278.8 billion
June 1989$283.7 billion
September 1989$284 billion
December 1989$294.3 billion
March 1990$292.4 billion
June 1990$301.7 billion
September 1990$308 billion
December 1990$315.3 billion
March 1991$311.1 billion
June 1991$318.1 billion
September 1991$321.8 billion
December 1991$335.4 billion
March 1992$335.6 billion
June 1992$337.1 billion
September 1992$346.9 billion
December 1992$361.9 billion
March 1993$362.7 billion
June 1993$375.8 billion
September 1993$384.7 billion
December 1993$398.6 billion
March 1994$400.8 billion
June 1994$411.6 billion
September 1994$416.9 billion
December 1994$428.5 billion
March 1995$427.7 billion
June 1995$434.8 billion
September 1995$436.3 billion
December 1995$445.8 billion
March 1996$440.5 billion
June 1996$446.4 billion
September 1996$452 billion
December 1996$465 billion
March 1997$462.3 billion
June 1997$469.8 billion
September 1997$475.4 billion
December 1997$493.1 billion
March 1998$491 billion
June 1998$498.1 billion
September 1998$508.6 billion
December 1998$526.4 billion
March 1999$531 billion
June 1999$544 billion
September 1999$556.8 billion
December 1999$612.5 billion
March 2000$577.1 billion
June 2000$582 billion
September 2000$583.8 billion
December 2000$598.3 billion
March 2001$599.1 billion
June 2001$609.1 billion
September 2001$647.2 billion
December 2001$650.8 billion
March 2002$659 billion
June 2002$674 billion
September 2002$680.4 billion
December 2002$699.2 billion
March 2003$705.3 billion
June 2003$715 billion
September 2003$721.1 billion
December 2003$739.4 billion
March 2004$736.8 billion
June 2004$750.7 billion
September 2004$762.2 billion
December 2004$776.3 billion
March 2005$773.5 billion
June 2005$780.7 billion
September 2005$787.9 billion
December 2005$803.1 billion
March 2006$810.1 billion
June 2006$812.4 billion
September 2006$810.4 billion
December 2006$826.7 billion
March 2007$820.9 billion
June 2007$827.2 billion
September 2007$827.4 billion
December 2007$837.2 billion
March 2008$833 billion
June 2008$840.2 billion
September 2008$909.7 billion
December 2008$1,666.4 billion
March 2009$1,647.3 billion
June 2009$1,683.7 billion
September 2009$1,801.2 billion
December 2009$2,026.2 billion
March 2010$2,079.6 billion
June 2010$2,002.4 billion
September 2010$1,961.2 billion
December 2010$2,017 billion
March 2011$2,395.3 billion
June 2011$2,648.5 billion
September 2011$2,637.7 billion
December 2011$2,619.6 billion
March 2012$2,655.2 billion
June 2012$2,618.8 billion
September 2012$2,594.9 billion
December 2012$2,675.9 billion
March 2013$2,935 billion
June 2013$3,201.5 billion
September 2013$3,486.9 billion
December 2013$3,717.5 billion
March 2014$3,885.9 billion
June 2014$3,948.7 billion
September 2014$4,049.2 billion
December 2014$3,934.5 billion
March 2015$4,030.6 billion
June 2015$3,919.6 billion
September 2015$4,028.5 billion
December 2015$3,835.8 billion
March 2016$3,898.4 billion
June 2016$3,825.5 billion
September 2016$3,735.9 billion
December 2016$3,531.6 billion
March 2017$3,856.3 billion
June 2017$3,762.8 billion
September 2017$3,874.5 billion
December 2017$3,851 billion
March 2018$3,800.6 billion
June 2018$3,650.5 billion
September 2018$3,559.8 billion
December 2018$3,400.7 billion
March 2019$3,381.5 billion
June 2019$3,274.8 billion
September 2019$3,202.7 billion
December 2019$3,426.5 billion
March 2020$3,883.1 billion
June 2020$5,001.8 billion
September 2020$4,880.3 billion
December 2020$5,206.5 billion
March 2021$5,839 billion
June 2021$6,027 billion
September 2021$6,388.8 billion
December 2021$6,413.1 billion
March 2022$6,134.3 billion
June 2022$5,506.3 billion
September 2022$5,411.1 billion
December 2022$5,406 billion
March 2023$5,571.5 billion
June 2023$5,608.5 billion
September 2023$5,567.2 billion
December 2023$5,827.2 billion
March 2024$5,882.5 billion
June 2024$5,731.4 billion
September 2024$5,587.8 billion
December 2024$5,603.5 billion
March 2025$5,774.8 billion
June 2025$5,748.2 billion
September 2025$5,478 billion
December 2025$5,373.7 billion
March 2026$5,458.6 billion
June 2026$5,488.4 billion
August 2026$5,411.6 billion
Cite this

Cite the agency first. This paper is the place you read the figure, as of August 2026.

  • APA Board of Governors of the Federal Reserve System (H.3 Aggregate Reserves of Depository Institutions and the Monetary Base), via GOVSPENDING.ORG. (2026, August 1). BOGMBASE, Monetary base, total, billions of dollars, monthly [Data set]. https://govspending.org/series/BOGMBASE/ Retrieved October 9, 2026, via The Fed Gazette, https://fedgazette.com/monetary-base/#chart-monetary-base-0
  • MLA Board of Governors of the Federal Reserve System (H.3 Aggregate Reserves of Depository Institutions and the Monetary Base), via GOVSPENDING.ORG. “BOGMBASE, Monetary base, total, billions of dollars, monthly.” BOGMBASE, Monetary base, total, billions of dollars, monthly, data as of 1 Aug. 2026, https://govspending.org/series/BOGMBASE/. Accessed 9 Oct. 2026 via The Fed Gazette, https://fedgazette.com/monetary-base/#chart-monetary-base-0.
  • Chicago Board of Governors of the Federal Reserve System (H.3 Aggregate Reserves of Depository Institutions and the Monetary Base), via GOVSPENDING.ORG. “BOGMBASE, Monetary base, total, billions of dollars, monthly.” Data as of August 1, 2026. https://govspending.org/series/BOGMBASE/. Retrieved October 9, 2026 via The Fed Gazette, https://fedgazette.com/monetary-base/#chart-monetary-base-0.

As of August 2026 · Board of Governors of the Federal Reserve System (H.3 Aggregate Reserves of Depository Institutions and the Monetary Base), via GOVSPENDING.ORG · BOGMBASE, Monetary base, total, billions of dollars, monthly · Billions of Dollars · original series BOGMBASE on FRED · Retrieved

Monetary base: what changed since the last print

The latest monetary base print is $5,411.6 billion for August 2026, lower than the print before it, $5,523.9 billion for July 2026. About a year earlier, for August 2025, it was $5,686.1 billion, and the latest print is lower than that.

This paper says only whether the latest stored print is higher than, lower than, or the same as an earlier stored print, and prints both. It does not compute a difference or a percent.

PeriodMonetary base, total
August 2026$5,411.6 billion
July 2026$5,523.9 billion
June 2026$5,488.4 billion
May 2026$5,538.9 billion
April 2026$5,470.4 billion
March 2026$5,458.6 billion
February 2026$5,388 billion
January 2026$5,402.5 billion
December 2025$5,373.7 billion
November 2025$5,302.1 billion
October 2025$5,361.8 billion
September 2025$5,478 billion

What the monetary base is, in plain English

The monetary base is the money the central bank itself creates. It is made up mainly of currency in circulation and the reserve balances that banks hold in their accounts at the Federal Reserve Banks. The Board of Governors reports it in its H.3 release.

The base is narrower than the money stock. M2 counts the deposits and other balances that the public holds. The base counts what the central bank has put out, which banks can use as a foundation for lending.

When the Federal Reserve buys securities, it pays by crediting reserve balances, and the base rises. The base therefore moves with the Fed’s balance sheet. This paper prints the level as published and does not compute growth.

Monetary base
Currency in circulation plus the reserve balances banks hold at the Federal Reserve.
Reserve balances
Money banks hold in accounts at the Federal Reserve Banks.
Money stock
The total of money held by the public, counted as M1 and M2.

Monetary base questions answered

What is the latest monetary base?

The total monetary base was $5,411.6 billion for August 2026, according to the Board of Governors of the Federal Reserve System, via GOVSPENDING.ORG.

What is the monetary base?

It is currency in circulation plus the reserve balances that banks hold at the Federal Reserve, which together are the money the central bank creates.

Is the monetary base the same as M2?

No. M2 counts money held by the public, such as deposits. The base counts what the central bank has issued.

Who publishes the monetary base?

The Federal Reserve Board publishes it in the H.3 release.

Why does the base follow the Fed’s balance sheet?

The Fed pays for the securities it buys by crediting banks’ reserve balances, which are part of the base.

What does the as-of date mean?

It is the date the agency attached to the figure, and it is printed beside the figure. It can be earlier than today: a daily series is dated its business day, a weekly or monthly series is dated its week or month. The page also prints when this paper retrieved the file, so you can tell a late feed from a late print.

How do I cite a figure from this page?

Cite the agency first (Board of Governors of the Federal Reserve System, via GOVSPENDING.ORG). Then name The Fed Gazette as the place you read it. The Cite this panel on the page gives APA, MLA and Chicago lines built from the agency, the series name, the as-of date, the source URL and the date this paper retrieved the file.