The 65pc jump in profits compared with 2009 comes as the Fed's quantitative easing (QE) programme has pushed the size of its balance sheet to almost $2.5 trillion. After the first round of QE in March of last year, the Fed embarked on controversial second round in November designed to boost the US economy's stuttering recovery. Critics say QE is the wrong policy to try to cut unemployment with, and it risks sparking inflation as more money chases investments.