The following chart shows total checkable deposits.
Click to enlarge.
Based on the chart, which is the better question:
1. When will banks need to raise interest rates to attract checking deposits?
2. When will banks require you to give them a toaster if you wish to open a new checking account?
Those anxiously awaiting higher interest rates on their checking accounts may be sorely disappointed. Mine pays 0.04%. I am earning roughly 3 cents per month per thousand dollars. I try not to spend it all in the same place, but I admit that it does tend to burn a hole in my pocket.
Source Data:
St. Louis Fed: Total Checkable Deposits
Early Q2 GDP Tracking: 1.9% to 3.6%
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From BofA:
2Q US GDP tracking is down a tenth from our official forecast of 2.0% q/q
saar to *1.9% q/q saar* [May 17th estimate]
emphasis added
From Gold...
1 hour ago
4 comments:
That is a truly awful disco video, but I can go awfuler: Disgorilla!
We're drowning in money!
Seeing an accurate simulation of our economy would be laughable.
Speaking of which, Steve Keen has a new video up:
https://www.youtube.com/watch?v=fSTgLz1F3xM
Mr Slippery,
You took the disco video competition to a whole new level! Seems I brought a disco knife to a disco gunfight. Hahaha! :)
Troy,
Seeing an accurate simulation of our economy would be laughable.
I'm still looking forward to an accurate simulation of the weather. Coming any day now! Just need to be patient. :)
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