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ted lujan
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The Fed Paid Banks $38.5 Billion in Interest on “Reserves” in 2018, Slickest Annual Wealth-Transfer from Taxpayers to Banks - Wolf Richter -

The Fed. needs to be accountable the representatives of the voters.

Commented 1927 days ago

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Beginning of the headline :Normally, this would be ironic: The Fed doesn’t need to borrow; it creates money when it needs some. So it wouldn’t pay interest. But these are not normal times. The Fed reported its preliminary results this morning for the year 2018. The headline is that it sent $65.4 billion of its profits to the US Treasury Department in 2018, and that this amount had plunged by 18.5% from the remittances, as they’re called, in 2017, and by 44.1% from the peak of $117 billion in 2015. The Fed earns interest i... Read More

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