NEW YORK Feb 22 A top Federal Reserve official
downplayed the prospect that the U.S. central bank will deliver
losses to the U.S. government in the years ahead, arguing on
Friday that there are broader benefits from the Fed's massive
Fed Governor Jerome Powell acknowledged that the Fed could
come under public and political criticism if there is an
extended period of zero so-called remittances to the U.S.
Treasury. But he said that, more importantly, the Fed has no
intention to permit inflation in the face of such criticism.
"Any temporary losses should be weighed against the expected
social benefits of the increased economic growth" by the asset
buying, Powell said at a conference hosted by the University of
Chicago Booth School of Business.