Fed's Financial Turnaround After Pandemic Losses

The Federal Reserve, after three years of financial challenges due to managing the economy during and after the COVID-19 pandemic, has started earning enough to cover past losses. Since early November, the Feds deferred asset, which records its losses, has decreased from $243.8 billion to $243.2 billion. This marks a significant shift in a long-standing trend of increasing losses. While it may take several years for the Fed to fully recover these losses, recent data shows that the twelve regional Reserve Banks could see over $2 billion in profits this current quarter. This improvement suggests that the period of negative earnings might be ending, a welcome development for the central banks financial standing.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.