Err.. I mean, according to them, they are expanding the pool of money available, by buying out the junk bonds issued by corporate America. The same bonds from the cheap loans that they took out at super low interest rates, in order to buy back their shares, thus increasing their stock value, and enabling them to give millions of dollars in bonuses to their executives. While everyone else, gets an unpaid furloughed vacation and unemployment.
It doesn't matter if the Fed makes a profit. The Fed can print money - the Fed's job is stabilizing the market and the economy, not making money (which it can literally do at a touch of a button).
And as a note, the Fed has stabilized markets very well for the last eight years - at the price of speculative distortions to the real economy.
Valid point, but there are also billions of dollars created out of thin air by the Federal Reserve to pump up the stock market, and perhaps that deserves some media attention as well.
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