News Summary: Fed pays government record $88.9B

News Summary: Federal Reserve paid federal government record amount of $88.9 billion in 2012

Associated Press

HAVEN'T WE MET?: The Federal Reserve paid the federal government a record $88.9 billion in 2012, almost 18 percent more than a year ago. The previous record was $79.3 billion in 2010.

BOND SHARPIE: The central bank earned the money in part from the Treasury bonds and mortgage-backed securities it has purchased to drive interest rates lower and boost the economy.

THOSE WERE THE DAYS: Before it launched the first bond buying program in 2008, its annual payments had averaged below $30 billion for the previous three years.

Sorry you didn't like this comment. Please provide a reason below.

Are you sure?
Rating failed. Try again.
Request failed. Try again.
We will promote constructive and witty comments to the top, so everyone sees them!
Sorry, we can’t load comments right now. Try again.

    Recommended for You