The Federal Reserve has apparently reported an operating loss.
JUST IN: 🇺🇸 US Federal Reserve to post operating loss for the first time in over a decade, Bloomberg reports.
— Watcher.Guru (@WatcherGuru) October 10, 2022
Here’s the Bloomberg article.
I don’t even understand how such a situation is possible. This is a private bank that was given authority by Congress to create unlimited amounts of currency units out of nothing. They can punch some digits on a computer and manifest dollars out of the ether.
If you are in charge of an entity that makes money out of nothing, and you post an operating loss, you have some seriously incompetent people running things.
