Fed Unrealized Losses Are Real Losses for Taxpayers

The new york fed released their annual report on open market operations yesterday. The report includes a statement that is both critically important and exactly wrongqote from the report. In fact, an increase in unrealized losses on the somo's portfolios equates, dollar for dollar, with the decrease in the current value of expected soma net income. So it's absolutely right what bill is saying, that a loss is a loss, and it reflects the deferred acid really a reflection to a bookkeeping slight of hand. But if, in fact, intrustrates don't eventually go down again, then there is no real deferred asset worth anything.

Transcript

Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app