Fed Rate Hikes Are Good for Banks—Unless They End in a Recession

Posted on AllSides May 9th, 2022
From The Center
Win McNamee/Getty Images

Interest rates are going up, but bank stocks aren’t.

JPMorgan Chase & Co., Goldman Sachs Group Inc., Bank of America Corp. and Morgan Stanley have slumped this year after two years of big pandemic gains. All four banks are off their 52-week highs by more than 20%, including a 28% drop at JPMorgan. That compares with a 14% drop in the S&P 500.

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