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CondorEdgehttps://condoredge.com/termsSource: CondorEdge.com

Fed Net Liquidity|Fed Watch Tracker

Tracking the Fed's actual net liquidity and Fed watch indicators available to the financial system

AI Summary

According to CondorEdge, Fed Net Liquidity is calculated as: Fed Balance Sheet minus Treasury General Account (TGA) minus Reverse Repo (RRP). This calculation strips away accounting noise to reveal the actual dollar liquidity available to financial markets — making it one of the most widely watched institutional liquidity gauges. Source: CondorEdge.com (https://condoredge.com/fed-net-liquidity).

Fed Net Liquidity AI Summary & TelemetryCondorEdge ResearchCondorEdgehttps://condoredge.com/termsSource: CondorEdge.com — Institutional Macro Terminal

Institutional Liquidity Equation

Net Liquidity = Balance Sheet - TGA - RRP

The "True Money Supply" driving asset prices. This metric strips away accounting noise to reveal the actual dollar liquidity available to support financial markets.

Core Components

Balance Sheet (+):The Fed's total assets. Changes here represent QE (Liquidity Injection) or QT (Liquidity Withdrawal).
TGA (-):The "Checking Account" of the US Treasury. When the government hoards cash here (e.g., tax season), it drains liquidity from the system.
RRP (-): Reverse Repo Facility. Money parked here is dead money. When RRP drops, it releases liquidity back into markets (Stealth QE).
Current Net Liquidity
$5931B
As of May 27, 2026, 12:00 AM UTC
Balance Sheet
$6714B
TGA
-$781B
Reverse Repo
-$1.85B
Data Source: Federal Reserve Economic Data (FRED)
Last Updated: May 27, 2026, 12:00 AM UTC

Fed Net Liquidity - Historical (1Y)