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Fed's paper losses exceed $200 billion
By Michael S. Derby
Reuters
via Yahoo News, Sunnyvale, California
Thursday, October 3, 2024
NEW YORK -- U.S. Federal Reserve losses crossed the $200 billion point this week, according to data released today by the central bank.
The Fed reported that as of Wednesday, the level of its so-called earnings remittance to the Treasury Department stood at negative $201.2 billion. The number represents a paper loss that central bank officials have noted does not impair their ability to conduct monetary policy.
... Dispatch continues below ...
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... For the remainder of the announcement:
The negative number is captured in an accounting measure the Fed calls a deferred asset. The Fed must cover this shortfall before it can begin returning excess earnings to the Treasury.
Fed losses flow from the high-interest rate monetary policy path it had been pursuing to bring down inflation. ...
... For the remainder of the report:
https://finance.yahoo.com/news/feds-paper-losses-top-200-203626613.html
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