Federal Reserve profits fall as normalisation takes hold
The Fed remittances to US Treasury fell by 18.5% from last year
The Federal Reserve sent lower remittances to the US Treasury in 2018, as normalisation increased interest expenses and drained income.
The Fed sent about $65.4 billion of its profits to the Treasury, down 18.5% from the previous year, and 44.1% down from the $117 billion paid in 2015, a statement from the Fed revealed.
Last year’s payments included $3.2 billion from the Fed’s capital surplus account, which lawmakers tapped into twice to offset government spending.
NormalisationThe central
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