Despite all the experts telling us that interest rate cuts were "next" month or in the 2nd half. These people are being silent atm. Bloomberg has published a different opinion.
JPMorgan and Wells Fargo both reported net interest income—the earnings they generate from lending—that missed analysts’ estimates Friday. At JPMorgan, that income slipped from the prior quarter for the first time in almost three years. Shares of the largest US bank fell the most since 2020. With stubborn US inflation making it more likely the Fed will have to delay interest-rate cuts, shareholders were eager to hear how much more that might boost revenue from lending. Instead, banking executives took turns talking about how depositors are chasing higher returns on their savings. At Wells Fargo, deposits that don’t pay interest slumped 18% from a year earlier, whilethose that do jumped. —David E. Rovella
Here are today’s top stories
On Monday, Donald Trump is to become the first former American president toface a criminal trial in the nation’s 248-year history. Jury selection in New York state court will be followed by prosecutors presenting evidence that Trump falsified his company’s documents in a bid to hide payments to bury damaging stories in the runup to the 2016 presidential election. Trump, who has pleaded not guilty, faces almost three dozen counts and potentially several years in prison if convicted. The twice-impeached Republican faces three other prosecutions, for mishandling top secret documents and seeking to subvert the 2020 election. He has pleaded not guilty in those cases as well.
Another fascinating thing is the Democrat using legals to challenge Trump.
Which side would you choose?
More importantly I have negotiated a better rate with an "interest" account.
If you have funds; will/could pay to have a talk to your banker. Every extra is topping on the toast.
