NEW YORK Rising interest costs cut into the amount of money the Federal Reserve handed back to the US Treasury last year compared to 2021, the US central bank said in an audited financial statement released on Friday (March 24). The Fed returned US$76 billion to the Treasury last year, down from US$109 billion in the prior year, according to the document, which updated figures first released in January. The central bank said it earned US$58.8 billion last year versus US$107.9 billion in 2021.

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