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Financial Services Report United States 1st Quarter 2022

Financial Services. United States of America, 2022

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Title:
Financial Services Report United States 1st Quarter 2022
Subjects: Asset acquisitions ; Bank technology ; Banking industry ; Budget deficits ; Consumers ; Coronaviruses ; Cost control ; COVID-19 vaccines ; Economic crisis ; Equity financing ; Financial services ; Households ; Immunization ; Interest rates ; International finance ; Loans ; Pandemics ; Profitability ; Profits ; Shutdowns ; Small & medium sized enterprises-SME ; Tax cuts
Is Part Of: Financial Services. United States of America, 2022
Description: The Federal Reserve (Fed, the central bank) started to raise interest rates in March 2022 with a one-quarter-percentage-point rise, with gradual increases until end-2024 as the economic recovery takes hold. According to the Federal Deposit Insurance Corporation (FDIC), the number of commercial banks shrank to 4,231 at end-2021-down from 4,374 at end-2020 and more than 8,300 in 2000. [...]pre-tax profits rose sharply in 2021, by 91.4% to US$351.7bn, as banks reversed their heavy provisioning and boosted non-interest income while controlling operating costs. According to our estimates, about 32% of households earned more than US$150,000 in 2021, and the proportion will rise to 38% by 2026.
Publisher: New York: The Economist Intelligence Unit N.A., Incorporated
Language: English
Identifier: EISSN: 2048-6057
Source: AUTh Library subscriptions: ProQuest Central

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