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Paul Kupiec and Alex Pollock: For the First Time, the Fed Is Losing Money

Thanks to interest-rate risk exposure, the central bank will soon have negative equity capital. Like all central banks, the Federal Reserve was designed to make money for the government from its monopoly on issuing currency. The Fed did generate profits, which it sent to the Treasury, every year from 1916 on—until last fall. In a

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Posted: March 26, 2023 Sunday 02:52 PM