How much did the Fed make?
This final note today, in honor of the opening of corporate earnings season. Alcoa reported profits after the bell this afternoon, basically in line with expectations.
Also reporting was the Federal Reserve Bank of the United States. It’s got all those Treasury bonds it’s been holding, and loans the Fed’s made under its various bailout or stimulus programs. Bottom line — in the most literal sense of the word — the Fed cleared almost $81 billion in profit last year. Almost all of that — $78 billion — gets sent to the Treasury Department for deposit in the general fund. The rest is what the Fed’s going to use for operating expenses.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.