Fed says US banks can weather severe downturn comfortably By Reuters

Fed says US banks can weather severe downturn comfortably By Reuters

The U.S. stock market continues its treacherous year, with the S&P 500 year to date declining over 20% and the Nasdaq Composite Index posting a 28% decline as of June 22. The sharp price declines in equities were driven by the Federal Reserve raising rates and reducing its balance sheet in an attempt to slow inflation. Additionally, the economy slowed, particularly in the housing sector. The negatives were exacerbated by the war in the Ukraine and the uncertainty regarding the upcoming midterm elections. Unfortunately, we continue to believe the final low of this bear market cycle hasn’t been reached. However, even though the long-term bottom may not have been reached, equity markets rarely move in a straight line. On a short-term basis, U.S. equity markets are coming from an extremely …
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