Congress Raids Fed's Surplus for $2.5 Billion in Budget Deal
- Bernanke called same move ‘budgetary sleight-of-hand’ in 2015
- Central bank remitted $80 billion to Treasury in 2017
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For the second time in less than three years, Congress has raided the Federal Reserve’s capital surplus account, this time for $2.5 billion.
The move was buried in a budget deal passed early Friday morning in the U.S. House of Representatives and signed within hours by President Donald Trump to end a brief government shutdown.