Liabilities and Capital: Liabilities: Federal Reserve Notes, Net of F.R. Bank Holdings: Wednesday Level
WLFN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,353,549.00
Year-over-Year Change
0.89%
Date Range
6/14/2006 - 8/6/2025
Summary
This economic indicator tracks the net outstanding Federal Reserve notes in circulation, excluding those held by Federal Reserve Banks. It provides insight into the volume of physical currency in the U.S. monetary system and reflects broader monetary policy dynamics.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The series represents the total value of physical currency circulating in the economy, which is a critical component of the money supply. Economists use this metric to understand liquidity, cash flow, and potential inflationary pressures in the financial system.
Methodology
Data is collected weekly by the Federal Reserve, tracking the total face value of currency notes in circulation after accounting for notes held by Federal Reserve Banks.
Historical Context
This indicator is used by policymakers and economists to monitor currency circulation, assess monetary policy effectiveness, and analyze broader economic trends.
Key Facts
- Tracks net physical currency in circulation
- Updated on a weekly basis
- Excludes notes held by Federal Reserve Banks
FAQs
Q: What does the WLFN series measure?
A: The WLFN series measures the total value of Federal Reserve notes in circulation, excluding notes held by Federal Reserve Banks.
Q: Why is tracking currency circulation important?
A: Tracking currency circulation helps economists and policymakers understand liquidity, monetary policy effectiveness, and potential inflationary trends.
Q: How often is the WLFN data updated?
A: The WLFN data is updated weekly, providing a current snapshot of currency in circulation.
Q: How do policymakers use this information?
A: Policymakers use this data to assess monetary conditions, make informed decisions about money supply, and gauge economic health.
Q: What are the limitations of this indicator?
A: The WLFN only captures physical currency and does not include digital money or other forms of monetary assets.
Related Trends
Liabilities: Deposits: Total Deposits
LDTOTD
Liabilities and Capital: Capital: Surplus: Change in Wednesday Level from Previous Wednesday Level
RESPPLCSXCH1NWW
Assets: Liquidity and Credit Facilities: Loans: Change in Wednesday Level from Year Ago Level
RESPPALDXCH52NWW
Liabilities: Other Liabilities: All Other Liabilities, Other Liabilities and Accrued Dividends
LOLAOL
Liabilities and Capital: Other Factors Draining Reserve Balances: Treasury Cash Holdings: Change in Week Average from Year Ago Week Average
RESTBHTXAWXCH52NWW
Resources and Assets: All Other Resources or Assets
RAOR
Citation
U.S. Federal Reserve, Liabilities and Capital: Liabilities: Federal Reserve Notes, Net of F.R. Bank Holdings: Wednesday Level [WLFN], retrieved from FRED.
Last Checked: 8/1/2025