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
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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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