Fresh troubles in the U.S. regional-banking sector are prompting fed funds futures traders to place an almost 50% chance on Federal Reserve policy makers...
Fresh troubles in the U.S. regional-banking sector are prompting fed funds futures traders to place an almost 50% chance on Federal Reserve policy makers cutting interest rates at their July 25-26 meeting. Behind the latest worries are concerns about PacWest Bancorp. PACW, which saw its stock price tumble more than 20% on Thursday to less than $5 a share after the California-based bank reported a 9.5% deposit decline last week.
Behind the latest worries are concerns about PacWest Bancorp. PACW , which saw its stock price tumble more than 20% on Thursday to less than $5 a share after the California-based bank reported a 9.5% deposit decline last week. “We think we are going to see a 3%-handle on inflation at the end of the year, and even then that’s still pretty hot. The Fed will want to see inflation between 2% and 3% before it’s even thinking of cuts,” Reynolds said via phone. However, “one of the known unknowns right now, and one of the wild cards, is how difficult banking stress can become. If it becomes systemic, the Fed has to keep that in mind.
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