Posted on 03/26/2024 12:17:37 PM PDT by ChicagoConservative27
The Federal Reserve said Tuesday that it officially saw a net negative income of $114.3 billion in 2023, a record loss tied to expenses related to managing the central bank’s short-term interest rate target.
The loss last year follows $58.8 billion in net income in 2022, the Fed said.
The numbers released were an audited tally following preliminary numbers reported earlier this year.
The Fed has stressed repeatedly that net negative income does not impede its ability to operate or conduct monetary policy.
By law, the Fed hands over any profits after covering operational expenses to the Treasury.
(Excerpt) Read more at nypost.com ...
So, does this give them increased incentive to lower rates? And would that drive further increases in inflation?
They’re stuck between a hard and a rock place.
Stuck between mature technology that works and infant technology that doesn’t. With the current corporatism, they do what they are told, and Uncle Sugar will bail them out later. Who really thought EV’s were going to take off? Overeducated morons with zero common sense did.
DC - where common sense is an uncommon virtue.
The Fed has over $7 trillion in it’s balance sheet. Loosing $114 billion is noticeable, but not the end of the world for them.
The way to look at it is losses that should be on commercial bank balance sheets - but are not, because the Federal Reserve is always there to protect the biggest players.
I don’ believe a damn thing the “Fed” says.
FYI
https://www.federalreserve.gov/publications/2021-ar-federal-reserve-system-budgets.htm
The numbers are staggering.
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