The profits are up more than $4 billion from last year, when the central bank made $34.2 billion.
The Fed's total income was $41.9 billion, most of which was from interest earned on United States government treasuries ($40.3 billion). Additional funds came from providing services to depository institutions ($878 billion) and earnings of foreign exchange and loans ($765 million).
After discounting for expenses and costs of the
- Making the rules and breaking the mould (Allan Meltzer: 1928–2017)
- BoE economists criticise DSGE inflation modelling
- Indonesian deputy Perry on revolutionising monetary and financial policy
- Commission should have power to order CCPs to relocate to EU – Cœuré
- Indonesian banks will switch to reserves averaging in July