Tags: US | Fed | Profits

Federal Reserve Earned Record $47.4 Billion Last Year

Wednesday, 21 Apr 2010 11:09 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

A new report shows taxpayers got a record $47.4 billion last year in earnings from the Federal Reserve.

The payment to the Treasury Department is slightly higher than the $46.1 billion first estimated in January.

The new figure is based on more complete information contained in audited financial statements for the Fed's 12 regional banks and related units.

The amount handed over to Treasury last year is $15.7 billion more — or a 50 percent increase — from 2008, the Fed says.

The bigger windfall to taxpayers reflects gains from the Fed's efforts to fight the financial crisis and revive the economy. Critics have worried that the Fed's actions could put taxpayers at risk by reducing the amount turned over to Treasury coffers.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Pot Seen as Reason for Rise in Denver Homeless

Saturday, 26 Jul 2014 15:44 PM

Officials at Denver homeless shelters say the legalization of marijuana has contributed to an increase in the number of  . . .

Police: 'Not Giving Shrek a Noise Ticket'

Saturday, 26 Jul 2014 14:25 PM

A musical being performed in a New Hampshire park has drawn some noise complaints, but the deputy police chief says he's . . .

Gifts-for-Favors Trial Starts Monday for Ex-Gov. McDonnell, Wife

Saturday, 26 Jul 2014 12:22 PM

Former Virginia Gov. Bob McDonnell, his reputation already tarnished and his political future destroyed by a gifts-for-f . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved