Advertising

The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds | seattletimes.com

Business / Technology


Our network sites seattletimes.com | Advanced

Originally published March 22, 2011 at 8:46 AM | Page modified March 22, 2011 at 8:52 AM

Comments (0)     E-mail E-mail article      Print Print      Share Share

Fed says 2010 payment to government sets record

The Federal Reserve is paying a record $79.3 billion to the U.S. government after the central bank earned a record amount of money last year from programs aimed at boosting the economy.

AP Economics Writer

WASHINGTON —

The Federal Reserve is paying a record $79.3 billion to the U.S. government after the central bank earned a record amount of money last year from programs aimed at boosting the economy.

The Fed says its payment to the Treasury Department for 2010 is 67 percent higher than $47.4 billion it paid in 2009, the previous record.

The central bank earned a record $81.7 billion last year from its massive holdings of securities, which were purchased to help stabilize the financial system and pull the economy out of the recession. A portion of those earnings go toward funding the Fed, which receives no appropriations from Congress. Any money left over is turned over to the Treasury Department.

E-mail E-mail article      Print Print      Share Share

News where, when and how you want it

Email Icon

Comments
No comments have been posted to this article.

advertising

Video

Advertising

AP Video

Entertainment | Top Video | World | Offbeat Video | Sci-Tech

Marketplace

Advertising