Fed net profit fell last year
In a written statement from the Fed, data on the bank’s income and expenses for 2022 were shared.
Accordingly, the Fed’s net profit fell by $49.1 billion last year to $58.8 billion, due to rising interest costs.
The profit transferred by the bank to the US Treasury was $76 billion in 2022, a decrease of $33 billion compared to the previous year.
As of the end of last year, the Fed’s total assets decreased by 187 billion dollars compared to the end of 2021, and decreased to approximately 8.6 trillion dollars.
On the other hand, the operating expenses of 12 Fed branches stood at $9.2 billion in 2022.