News - National
Fed makes record profit of $46.1 billion last year
Posted: Jan 12, 2010 8:10 AM by Associated Press
The Federal Reserve says it made a record profit of $46.1 billion last year as the central bank made money off its extraordinary efforts to rescue the country from the worst economic and financial crisis since the 1930s.
The windfall gets turned over to the U.S. Treasury. It marks the biggest profit on records dating back to 1914 when the Fed was created. The previous record profit - of $34.6 billion - was registered in 2007. In 2008, the Fed reported a profit of $31.7 billion.
The Fed says the increase was primarily due to increase earnings on securities it held last year.
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