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Keyword: recordassets

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  • Bernanke Leaves Fed with Record Balance Sheet of $4,102,138,000,000

    02/01/2014 2:01:10 AM PST · by Olog-hai · 17 replies
    Cybercast News Service ^ | January 31, 2014 - 4:21 PM | Ali Meyer
    Retiring Federal Reserve Chairman Ben Bernanke, who was replaced by Janet Yellen as of today, is leaving the Federal Reserve with an unprecedented $4,102,138,000,000 in total assets on its balance sheet, up 391 percent from the $834,663,000,000 in total assets the Fed showed on its balance sheet when Bernanke took over as chairman in February 2006. Much of the increase in the Fed’s assets has come in the form of U.S. Treasury securities and Freddie Mac and Fannie Mae mortgage-backed securities that the Fed purchased over the last five years in its attempts to stimulate the economy. …