Economic Snapshot
A broad view of the U.S. economy: GDP, growth rate, consumer sentiment, money supply, and Federal Reserve balance sheet.
About this data
The US economic snapshot combines the headline macro indicators against which federal fiscal policy is judged: nominal and real GDP, quarter-over-quarter real growth, University of Michigan consumer sentiment, the M2 money supply, and the Federal Reserve's total assets. Each is sourced through FRED, which aggregates the official releases from the Bureau of Economic Analysis, the Federal Reserve Board, and the University of Michigan's Survey Research Center.
The relationship between these series and the federal budget is indirect but load-bearing. GDP sets the denominator for every ratio — debt-to-GDP, receipts-to-GDP, outlays-to-GDP — and real growth determines whether receipts expand faster than outlays. M2 and the Fed balance sheet shape the cost of Treasury borrowing; consumer sentiment leads receipts by a quarter or two via discretionary spending and capital-gains realizations. Reading them together is how serious analysts distinguish cyclical fiscal moves from structural ones.
Headline economic indicators
Real GDP Growth Rate
Consumer Sentiment Index
M2 Money Supply
Federal Reserve Total Assets
Current Snapshot — Headline Indicators
| Indicator | Current value | As of | Source |
|---|---|---|---|
| Nominal GDP | $31.87T | Jan 2026 | BEA |
| Real GDP Growth (QoQ, annualized) | 2.1% | Jan 2026 | BEA |
| Consumer Sentiment | 4.8 | May 2026 | UMich |
| M2 Money Supply | $23.05T | May 2026 | Fed |
| Fed Total Assets | $6.74T | Jul 15, 2026 | Fed |
Key Terms
Frequently asked questions
What is real GDP growth right now?
Real GDP measures the inflation-adjusted value of goods and services produced in the U.S. economy. The Bureau of Economic Analysis publishes quarterly releases with advance, second, and final estimates. Real GDP growth has run in the 2–3% range in recent quarters, above the 1.8% long-run consensus growth estimate.
What does the M2 money supply measure?
M2 is a broad measure of U.S. dollars in circulation. It includes currency plus checking and savings deposits, retail money-market funds, and small time deposits. M2 growth is a long-running monetary indicator — it surged 25% in 2020–21 before contracting in 2023, the first sustained contraction in the series' history.
What is the Fed balance sheet doing?
The Federal Reserve's balance sheet holds Treasury securities and mortgage-backed securities acquired during quantitative easing (QE). Starting in 2022 the Fed has been running quantitative tightening (QT) — letting holdings mature without reinvesting — shrinking the balance sheet from $9 trillion at peak to under $7 trillion.
What does consumer sentiment indicate?
The University of Michigan and The Conference Board publish monthly consumer sentiment/confidence indexes. These gauge how households feel about current conditions and future expectations. Sentiment hit a record low in mid-2022 during the inflation surge and has partially recovered as inflation cooled and employment stayed strong.