Economics: Fed Transfers $78.4 Billion to Treasury

The U.S. Federal Reserve's 2010 net income grew to $80.9 billion largely due to a boost in earnings from securities it acquired during the financial crisis, according to preliminary unaudited results the central bank announced Monday.

The income surge — a significant jump from its record-breaking $53.4 billion in earnings in 2009 — makes way for the Fed to transfer about $78.4 billion to the Treasury Department.

For more, see Fed Transfers $78.4 Billion to Treasury by Maya Jackson Randall, January 10, 2011 at The Wall Street Journal.