"If The Fool persists in his Folly he will become wise." - William Blake
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Fed's profit jumps 30% to $101 billion
But the Fed sends nearly all of its profits to the Treasury. Last year, that amounted to $96.9 billion. The Fed said this was a record. The Fed also ended 2014 with nearly $4.5 trillion in assets -- up from about $4 trillion in 2013. The central bank has been criticized by some economists and politicians for the size of its balance sheet, which ballooned during the financial crisis as the Fed bought billions of dollars of bonds and other securities each month to try and boost the economy. The concern is that the Fed may be helping blow up bubbles in the stock and bond markets because it has injected so much money ... (full story)