Ian Miles Cheong
@ianmiles · Oct 2, 2023
Back a few years ago the Fed was sending hundreds of billions $$$ to the US Treasury from its portfolio earnings, it was counted as revenues to the budget.
Now that Fed is running massive losses of $723 million PER DAY it does not count as expenditures to the budget. Magic
Wall Street Mav@WallStreetMav· Oct 2, 2023The Fed is losing $723 million per day paying commercial banks for reverse repos and interest on reserves.
Quote from article to explain the magic of the Fed's accounting:
"The Fed’s losses don’t represent a direct hit to the economy, since the way Fed accounting works the
Elon Musk
@elonmusk
Unsustainable
03:32 PM · October 2, 2023 · 86.2K views
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