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Jpmorgan Moves $350 Billion: Withdraw Funds From the Fed and Bet on Treasury Bonds
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JPMorgan Chase withdrew nearly $350 billion in cash from its Federal Reserve account since 2023 and spent much of that money on the US government's debt, in an attempt to protect itself from the rate cuts that threaten to erode its profits.JPMorgan, which manages more than $4 trillion in assets, reduced its Fed balance from $409 billion at the end of 2023 to just $63 billion in the third quarter of this year, according to data collected by the i…
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