Fed: Rising income costs cut funds handed back to Treasury last year

Credit: REUTERS/JOSHUA ROBERTS

By law the Fed returns profits after covering operating expenses to the Treasury. Over the last year the Fed has lifted its short-term rate target aggressively which has sharply increased the interest rates it pays banks, money funds and others to keep cash at the central bank.

(Reporting by Michael S. Derby; Editing by Andrea Ricci)

((Michael.Derby@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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