Quote:
Originally Posted by dyna mo
At the Federal Reserve’s July 13, 2011 hearings before the House Financial Services Committee, Representative Al Green cited evidence that the Fed made a profit on its QE 1 and QE 2 asset acquisitions and that the transfer of those funds back to the Treasury had helped reduce the deficit.
http://www.ritholtz.com/blog/2011/07...-the-taxpayer/ |
"The amount returned to the Treasury by the Fed will be less than what the Fed receives as an interest payment."
What they did was claim a profit because they had extra money left over on a debt payment, which isn't really growth or profit at all.