earnings season kicks off, the market jumped higher after several major banks have already reported better-than-expected results, a sign that the Federal Reserve’s rate cut isn’t having as big of a negative impact on financial companies as Wall Street feared.Here are the banks that have reported so far—including the four largest in the U.S.of over $30 billion and better-than-expected profit, which was 23 cents a share higher than Wall Street estimates.
Citigroup’s third-quarter earnings also came in higher than expected, with both profit and revenue just beating out Wall Street estimates, thanks to strong trading results that
Even if rates go to zero banks will just make more fiat currency by increasing credit card rates and/or overdraft fees. Borrow at zero and fleece the consumers at 20%.
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