Apr 24, 2026, 5:48 PM ET, , , , , , , , , , Summary The Federal Reserve has accelerated securities purchases, adding $168.7B over 21 weeks and $81.5B since the Iran conflict began. Despite quantitative easing, excess reserves in the banking system have barely increased, limiting downward pressure on the Federal Funds rate. Only one rate cut has occurred since December 2026, with the Fed managing reserves to avoid further reductions so far.