https://jameslavish.substack.com/p/interest-rate-risks-are-collapsing

Fed Funds is at 5%, and they’re paying customers 15 basis points on deposits, keeping 97% of the spread for themselves.

Note: 5% has 500 basis points, and they are giving their customer 15 basis points of those 500 bps

What a deal for the big banks 🤔

https://void.cat/d/5kAZQ8nsPdqSFDxpDzbqJf.webp