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Jobless and Faceless 2017-03-19T08:55:33-07:00 http://joblessandfaceless.fliteprojects.com/feed.php?f=17&t=343 2017-03-19T08:55:33-07:00 2017-03-19T08:55:33-07:00 http://joblessandfaceless.fliteprojects.com/viewtopic.php?t=343&p=468#p468 <![CDATA[Is the Federal Reserve giving banks a $12bn subsidy?]]> To understand the argument, consider the Fed’s year-end financial statement. In 2016 it earned $111.1bn in interest income on its vast portfolio of securities. But it also paid JPMorgan Chase, Wells Fargo, and other mostly big banks $12bn in interest on excess cash deposited at regional Federal Reserve banks. Such IOER payments are both woefully unpopular and critical to the Fed’s monetary policy. Read more @ http://www.economist.com/news/finance-a ... l-benefits

Statistics: Posted by McFurd — Sun Mar 19, 2017 9:55 am


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