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IPFS News Link • Federal Reserve

The Fed Sent $76BN To Treasury In 2022; It Is Now Sending $650 Million To Banks Every Day Instead

• Zero Hedge - Tyler Durden

The Federal Reserve announced on Friday that it sent $76 billion in profits to the US Treasury last year, though those transfers stopped in September when its income turned negative and the Fed started accumulating a massive, multi-billion loss which totaled $18.8 billion by the end of the year, and which has only grown exponentially every since. Only the Fed was quick to correct any misperception associated with calling its massive wealth transfer a loss - after all, the genius brain trust of career academics at the Fed could never be associated with such a pedestrian concepts as a "loss" as that would tarnish its brilliance and imply the need for a bailout by Congress, similar to what happened in the UK - and opted for the term "deferred asset" which supposedly "has no implications for the Federal Reserve's conduct of monetary policy or its ability to meet its financial obligations"; and after all, the Fed can always print whatever money it needs to plug the "deferred asset" hole.

The remitted amount was down from $109 billion remitted in 2021 and $87 billion in 2020.

1 Comments in Response to

Comment by Ed Price (10621)
Entered on:

The FED absolutely CAN print more money when they need to. But if they print just a little too much of it, inflation will grow, cash will be watered down, and ultimately the whole USD money system will fail. And, if they print it, why not see to it that the US government hands it out to the American public, so that people can prepare for the demise of their currency? Of course, all but a few of the people are too dumb to do this.

Anarchapulco 2023