Last week, the Federal Reserve got in trouble for signaling that it might end its stimulus programs. Today, the central bank proved it can still stimulate the economy, albeit indirectly, by having $1.2 million in cash that was bound for its coffers stolen in a heist.
The money, denominated in $100 bills, was stolen from a Swiss airliner that landed at JFK Airport yesterday, according to ABC. The cargo container had not been tampered with, the network said, meaning that the money may have vanished in Switzerland, before the flight. A law enforcement official told CNN that the money was bound for the Federal Reserve, though it’s not known if the official meant the Fed’s D.C. headquarters or the New York Fed.
Either way, Ben Bernanke might want to suggest implementing loose-money policies a little less literally from now on.