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US Banks Resilient Amid Recession Fears Due to 2023 Clean-Up
US Banks Resilient Amid Recession Fears Due to 2023 Clean-Up
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US banks are surprisingly resilient to a potential recession. This strength stems from the aftermath of the 2023 banking crisis, where several banks collapsed, prompting the industry to clean house. According to Bloomberg, this self-preservation wave is now aiding banks in navigating the tumultuous environment created by tariffs and volatile markets. The 2023 crisis was triggered by unrealized losses on government bonds after the Federal Reserve hiked interest rates in 2022. Investors lost confidence, leading to a deposit exodus into higher-yielding alternatives. This exodus wasn’t due to bad lending but because people didn’t want to keep their money in banks holding low-yielding bonds. No specific cryptocurrencies or exchanges mentioned.
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