The Fed Has 6,200 Tons of Gold in a Manhattan Basement—Or Does It?

The central bank provides limited inventory information and won’t let outsiders count the bars, prompting skeptics to pounce

Eighty feet below the streets of lower Manhattan, a Federal Reserve vault protected by armed guards contains about 6,200 tons of gold.

Or doesn’t.

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Fed Economists’ Stakes in Forecasting Firm Spur an Internal Probe

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One Source of Inflation: The Fed’s Own Payment Services