In its annual audited financial statement, released on Friday, the central bank reported it earned $112.3 billion on its asset holdings in 2018, down $1.3 billion from the year before. After paying its own expenses of around $7 billion, it sent $65.3 billion to the Treasury. That represented a decline of around $15.2 billion from the remittances to taxpayers in 2017.
The Fed’s major expense was the $38.5 billion in interest paid to banks on excess reserve deposits held at the Fed, an increase of $12.6 billion over 2017 that reflected the interest rate increases the central bank approved through last year.
Read More.. Source Reuters