A pulsed power supply of switched-mode power supplies, in particular for switched-mode power supplies with stand-by operation, has a main converter for the electrical isolation of primary and secondary circuits, as well as for transforming the voltages of the primary and secondary circuits. The pulsed power supply further has a pulsed second converter and a first closed-loop control circuit for an intermediate circuit voltage. The first closed-loop control circuit being assigned to the second converter and has a first output circuit connected on a downstream side of the second converter. A second closed-loop control circuit is provided for the intermediate circuit voltage. The second closed-loop control circuit is assigned to the second converter and is superimposed on the first closed-loop control circuit such that it can be activated at least temporarily or completely replaces the first closed-loop control circuit at least temporarily. The control time constant of the first closed-loop control circuit being greater than the control time constant of the second closed-loop control circuit.