The Fed posting an $80.9 billion profit

Today, the Federal Reserve did what it does around this time every year—it reported its income. The Federal Reserve Bank, a privately owned corporation with stockholders, is the largest bank in the United States by assets—larger even than behemoth Bank of America—which has over 6,000 branches and over 280,000 employees.

Bank of America, with $2.3 trillion in assets representing over 12% of U.S. deposits, posted $6.3 billion in profit in 2009, a fairly slow year by its standards. The Fed, on the other hand, with its $2.4 trillion balance sheet, made Bank of America look downright sloth-like, posting an $80.9 billion profit. That is no small feat.





http://wealthcycles.com/blog/2012/01/10/the-federal-reserve-creates-a-profit