Mises Wire
Author:
Patrick Barron
Online Publish Date:
J. Pollock’s “ Who Owns Federal Reserve Losses and How Will They Impact Monetary Policy? “ became the focal point for a wide-ranging discussion of monetary issues to the unwitting public through loss of purchasing power. Per Kupiec and Pollock: “Innovations“ in accounting policies adopted by the Federal Reserve Board in 2011 Reserve notes, dollar denominated cash balances and fixed-rate assets. The “innovation“ in accounting policies centers around the Fed’s newly minted “deferred