FILE PHOTO: A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. REUTERS/Marcos Brindicci/File Photo
To be sure, if lawmakers in Washington manage to reach an agreement, a new fiscal stimulus package could help banks if it boosts U.S. loan growth, interest rates and economic activity. “You’re looking at years for this sector to make a full recovery. It will take a lot of positive things to happen in the U.S. economy for it to get back to the type of performance we are seeing in the broader S&P,” said Rick Meckler, partner, Cherry Lane Investments, a family investment office in New Vernon, New Jersey. “Investors, in my view, will need to be patient.”
Meckler says further stimulus would be “a good first step towards a better environment for to generate top-line and bottom-line growth.” Lamar Villere, co-portfolio manager, says these banks are small enough that he can more easily examine their risks than the exposures of more geographically diverse and larger banks like JPMorgan Chase & Co or Wells Fargo & Co .
For the rich everything is fine and the poor are in a hot water
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