NPR's David Kestenbaum reports on the benefits of money creation for the Federal Reserve:
"The government is getting $100 billion this year, essentially from nowhere. It is the profit made by the Federal Reserve. The Fed is in charge of managing how many dollars are in the economy. It turns out to be a very profitable business, especially since the financial crisis, when the Fed threw an extra $3 trillion into the economy."
Report does not go into detail about how the funds are also distributed ie to Fed member banks, thoughCongress did act in December to limit.
This is progress.Next Post-the extinguish part..Hopefully.
"The government is getting $100 billion this year, essentially from nowhere. It is the profit made by the Federal Reserve. The Fed is in charge of managing how many dollars are in the economy. It turns out to be a very profitable business, especially since the financial crisis, when the Fed threw an extra $3 trillion into the economy."
Report does not go into detail about how the funds are also distributed ie to Fed member banks, thoughCongress did act in December to limit.
This is progress.Next Post-the extinguish part..Hopefully.
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