The Federal Reserve ran an operating loss of $18.7 billion last year, its third straight year of losses, which stems from unprecedented losses tied to pandemic-era stimulus and subsequent inflation fight.

The Federal Reserve ran an operating loss of $18.7 billion last year, its third straight year of losses, which stems from unprecedented losses tied to pandemic-era stimulus and subsequent inflation fight.

The Wall Street Journal March 26, 2026

The central bank’s finances are recovering after an unprecedented run of losses tied to its pandemic-era stimulus and subsequent inflation fight.