Locator: 48729THEFED.
The Fed is now facing a president that actually understands economics, micro- and macro. No wonder JPow's hair has become so gray and he himself looks like he has aged significantly in six months. It should be noted that the cost overrun of the Fed's building renovation is trending toward $1 trillion.
So, with that in mind.
I was curious about "current events" regarding the Federal Reserve Bank. I asked ChatGPT. My takeaway: by keeping rates higher than necessary at this point in time will help the Fed's balance sheet. ChatGPT says "the Fed" would never do that. LOL.
I'm only going to post my prompts to ChatGPT. You can do the same thing.
My first prompt:
The Federal Reserve Bank is self-funded through interest it charges banks. Does the Federal Reserve do better for itself with higher rates or lower rates or does it matter?
Part of the long answer to the first prompt:
My second prompt:
With the above in mind (unprecedented losses), one might argue that the Federal Reserve Bank is now trying to recoup its losses from 2022 - 2024. Thoughts?
ChapGPT's short answer: the Fed would never do that.
Third prompt:
Yes, that would be interesting: how much did the Fed actually lose during 2022 - 2024 and how long it might take to recover?
The answer to that question:
