Bank Earnings Reports: Key to Fed's Next Rate Rise Amidst COVID Lockdowns and Investor Expectations.
TL;DR Summary
JPMorgan Chase, Citigroup, and Wells Fargo will kick off earnings season on Friday, and what they say could be one of the best forward-looking economic indicators available. Banks were already tightening lending conditions in January, before the turmoil that brought down Silicon Valley Bank, according to the Federal Reserve’s Senior Loan Officer Opinion Survey. Conditions can only have become worse since last month’s market scare, and upcoming bank earnings could hold the key to the Fed's next rate rise.
Topics:business#bank-earnings#economic-indicators#federal-reserve#finance#interest-rates#lending-conditions
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