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How to Explain the Fed’s Massive Losses?

How to Explain the Fed’s Massive Losses?
An eagle tops the U.S. Federal Reserve building's facade in Washington on July 31, 2013. Jonathan Ernst/Reuters
Jeffrey A. Tucker
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Commentary

The Federal Reserve last year lost $114 billion on its portfolio, something that has never happened in the history of this institution. People hear this and are completely confused by what it could mean. After all, if we know anything about the Fed, it’s that it has the power to print money out of thin air.

Jeffrey A. Tucker
Jeffrey A. Tucker
Author
Jeffrey A. Tucker is the founder and president of the Brownstone Institute and the author of many thousands of articles in the scholarly and popular press, as well as 10 books in five languages, most recently “Liberty or Lockdown.” He is also the editor of “The Best of Ludwig von Mises.” He writes a daily column on economics for The Epoch Times and speaks widely on the topics of economics, technology, social philosophy, and culture. He can be reached at [email protected]
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