NY Fed Infused $420 Billion to Wall Street in 7 Months: Truthout

The Federal Reserve has quietly delivered nearly half a trillion dollars to Wall Street with few strings attached over the past few months through an obscure government financial program intended for banks struggling to make cash payments, Luke Goldstein and Freddy Brewster reported for Truthout.

In total, after doling out little to no money since July 2020, the New York Fed has transferred more than $420 billion to Wall Street in the past seven months. (Photo: Federal Reserve Bank of New York) 

These cash infusions could signal instability in the broader financial sector and come as the central bank is besieged by potentially market-rattling turmoil following the Trump administration’s launch of a criminal investigation into Federal Reserve Chair Jerome Powell.

Goldstein and Brewster’s story was also published by The Lever.

The New York Federal Reserve, a regional branch of the central bank that works to maintain the country’s financial stability, kicked off the new year by injecting nearly $97 billion into the banking sector since Dec. 31, 2025.

The move is the latest in a series of major cash transfers the New York Fed has recently delivered to Wall Street. The infusions began with an $11 billion transfer on June 30.

In October, the transfers became much more frequent, culminating in a massive $50 billion infusion on Halloween, as first reported by investigative outlet DCReport.

In total, after doling out little to no money since July 2020, the New York Fed has transferred more than $420 billion to Wall Street in the past seven months — a record amount from the program.

Progressive economist Gerald Epstein says the Fed is more sensitive to the needs of the wealthy few than to the rest of the public.

For comparison, that sum is nearly equivalent to the money Congress passed to bail out banks during the 2008 financial crisis under the Troubled Asset Relief Program.