Fed's losses exceed $122 bn

15:20 - 6.12.2023

December 6, Fineko/abc.az. There are problems at the Fed, the U.S. financial institution. Thus, the bank is having difficulty transferring excess profits to the U.S. Treasury, since the institution's revenues exceed operating expenses.

ABC.AZ reports that the bank that completed the asset purchase operation in March 2022 and started raising interest rates, seems to have suffered losses since September 2022.

In parallel with increase in interest rates, bank's losses grew and reached $122.6 billion by the end of November.

The U.S. Treasury is struggling with discount rate on government debt worth more than $33 trillion, which will exceed $1 trillion by the end of October 2023.

By Elmir Murad

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