Fed income drops in 2016
Passage of "Fast Act" changes remittance process
The Federal Reserve Banks’ combined financial statements for 2016 show earnings fell somewhat in 2016. Interest income fell, costs rose and a new act adjusted the remittance process.
The Fed earned approximately $92 billion in 2016 and remitted $91.5 billion to the Treasury, compared with income of around $100 billion in 2015 and remittances of $117 billion.
Interest income declined by about $2.5 billion, which the Fed attributed to changes in the composition of its assets. The central bank
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