As the Federal Reserve contemplates future interest rate cuts in 2025, the central bank announced on 19 March 2025 that it would reduce the level of assets on its balance sheet as part of its program of monetary "quantitative tightening," from a total of $60 billion per month to a total of $40 billion per month starting in April 2025 (Yahoo [Bloomberg], MSN [Reuters], Investopedia, Congressional Research Service). The question will be suspended on 29 July 2025 if still open and the outcome determined using information in the statements and implementation notes release by the Federal Open Market Committee (FOMC) (Federal Reserve - FOMC Meeting Calendar). As of the launch of this question, the total cap of assets, beginning on 1 April 2025, was $40 billion each month, $5 billion in Treasury securities and $35 billion in agency debt and agency mortgage-backed securities (MBS) (Federal Reserve - Implementation Note 19 March 2025). A change in the amounts for Treasury securities and MBS that results in no net change from the total $40 billion will not count, and the date the change will take effect is immaterial.

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