The Federal Reserve Is a Money-Making Enterprise

“This probably shouldn’t come as any surprise, given that the central bank can create money out of thin air and buy yielding assets. Still, the Fed rakes in a staggering amount of money. The central bank recently released its unaudited preliminary financial statement for 2021. The Fed’s total net income for 2021 came in at $107.8 billion. How does that compare to a legitimate business? Apple booked a pretax income of $109 billion in its fiscal year 2021. So, the Fed rakes in nearly the same income as Apple.”

The Federal Reserve Is A Money-Making Enterprise | ZeroHedge

Federal Reserve Board – Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2021

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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