Reported 3 months ago
Regional bank stocks are rallying, thanks to Federal Reserve Chair Jay Powell indicating a possible interest rate cut and the optimism surrounding Trump's 2024 presidential campaign. This optimism has led to a 17% increase in an index tracking regional banks and a surge in individual stocks like PNC and US Bancorp. Investors are hopeful for relief for midsize banks impacted by high rates. Although challenges remain, executives are positive about the future, predicting growth and expecting rate cuts to improve their prospects.
Source: YAHOO