Fed taxes going up, way up

U.S. lawmakers pressed Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin for more expansive pandemic aid, as the two officials told Congress that more fiscal stimulus is needed to stabilize the nascent U.S. economic recovery.

200 billion a year the Fed will be collecting at the height of the QE. That is close to one point of real GDP collected by the banks. It seems like a small amount but it is the net income from the four largest banks retail income. It is about a fourth of the total net income from banking.

Check the numbers:

How the Four Biggest US Banks Generate Income and Revenue

The Fed has no pass through on this, it is a charge against the very banks it regulates and we see Powell volunteering to hit them with more tax.