Macro Lit Review 4: Highlights from Mid-2023 with George Selgin
Macro Musings with David Beckworth
00:00
Should the Fed Have Lost $1 Trillion?
As rates went up unexpectedly high, the value of treasuries and other debt securities have gone down. The Fed has taken an unrealized mark-to-market loss on its balance sheet about $1 trillion as of the end of 2022. It's really these privately held securities that creates the true cost to the taxpayer.
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