Economy
Federal Reserve bleeds money for the Treasury
HERE’S THE INTERESTING PART
Central banks usually print massive profits and hand the spare change to their governments, but the US Federal Reserve recently broke the mold. Thanks to aggressively hiking interest rates, the Fed is paying out far more to commercial banks than it earns on its massive bond portfolio. This triggered unprecedented operating losses, forcing them to halt their regular multi-billion dollar remittances to the US Treasury.
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