Banks earned $90.3 billion from just buying a bond/security from the Fed and selling it back at a higher price, literally the next day. It's called a reverse-repo. Banks “earned” $90.3 billion that way in 2021. Talk about being anti-work!
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Talk about antiwork…Banks earned $90.3 billion in reverse-repos with the Fed in 2021
Banks earned $90.3 billion from just buying a bond/security from the Fed and selling it back at a higher price, literally the next day. It's called a reverse-repo. Banks “earned” $90.3 billion that way in 2021. Talk about being anti-work! https://fred.stlouisfed.org/series/RRPONTTLD https://www.newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/repo-reverse-repo-agreements
