US Fed earned record $45 bln in 2009: report

Jan. 12, 2010 – Antiwar NewsWire

The US Federal Reserve turned a record profit of 45 billion dollars last year even as it plowed money into teetering banks to prevent a financial collapse, The Washington Post reported Tuesday.

The country’s central bank played a pivotal role in propping up the US economy in the midst of the sharpest recession since the Great Depression, spending billions of dollars on a highly controversial bailout of financial institutions.

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