Bracing for a Slowdown, Banks Up Their Cash Reserves
October 14, 2022 at 17:12 PM EDT
Net income for Wall Street’s largest banks – JPMorgan Chase, Morgan Stanley, Citigroup, and Wells Fargo – tumbled in the third quarter as volatile markets stymied investment activity. The Federal Reserve has been raising interest rates at an aggressive clip to tamp down record-high inflation. While rising rates tend to prop up profits for banks, [...] The post Bracing for a Slowdown, Banks Up Their Cash Reserves appeared first on ETF Trends .