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Fed sent $107.4 billion to Treasury in 2021 -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The Federal Reserve Board building at Constitution Avenue, Washington, U.S.A. is shown in this photo on March 19, 2019. REUTERS/Leah Millis

(Reuters) – The U.S. Federal Reserve has returned more money to Treasury than it did in the previous year, because its balance sheet grew at a record high and continued to support the economy during the COVID-19 epidemic.

The central bank released preliminary financial data on Friday. It reported that it made $107.8billion primarily from its assets in 2021. This is an increase of $19.3billion over the previous year. It sent $107.4 million to the Treasury out of that sum. The statement revealed that remittances totaled $86.9B last year.

Since March 2020, the Fed has been increasing its Treasury bonds and mortgage-backed Securities holdings to lower long-term rates in order to combat the economic effects of the pandemic. Over the last two years, Fed’s balance sheets have more than doubled in size from $4.1 trillion up to $8.7 trillion.

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