American banks now offer customers a better deal
How much higher will interest payments go?
When the Federal Reserve began to raise interest rates more than a year ago, American banks enjoyed a nice little boost. They increased the interest they charged on loans, while keeping the rates they offered on deposits steady. In other countries this move attracted public opprobrium and politicians floated measures to ensure that customers were not swindled. Americans were happy to rely on a more American solution: competition.
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This article appeared in the Finance & economics section of the print edition under the headline “The joy of competition”
Finance & economics November 4th 2023
- Donald Trump’s second term would be a protectionist nightmare
- American banks now offer customers a better deal
- What a third world war would mean for investors
- Investors are paying close attention to the world’s safest assets
- China’s economy is a mess. Why aren’t firms going under?
- How Japan poses a threat to the global financial system
- The Middle East’s economy is caught in the crossfire
From the November 4th 2023 edition
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