Week of March 20, 2023
On the heels of the second largest bank failure in US history, we see even greater consolidation of European banks to rehabilitate trust in the banking system. The Biden White House, US Congress and leadership in Federal agencies are discussing changes to address higher deposit insurance limits and the duration of unlimited deposit insurance. The Federal Reserve meets in the coming days to determine the future direction of interest rates. What further consequences may a rate hike have on the US economy? No change to our Signals – yet.
Bob Bilkie, CFA and Michael Mullenax