The Federal Reserve incurred a massive loss of $114.3 billion in 2023, marking the highest annual loss in history
On January 12th, local time, the Federal Reserve released its unaudited preliminary financial statements for 2023. The data shows that the Fed's income after deducting expenses in 2023 was a negative $114.3 billion (approximately RMB 819.3 billion), compared to a positive $58.8 billion in 2022. The reason for this deficit is related to the significant increase in interest expenses resulting from the Fed's interest rate hikes.
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