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Banks Cashing In On #Bidenflation

At a glance

  • Inflation, higher interest rates let major banks recover in down economy.
  • Bank of America on Monday posted second-quarter results that included the benefit from rising interest rates and about $425 million in expenses tied to regulatory matters.
  • “Solid client activity across our businesses, coupled with higher interest rates, drove strong net interest income growth and allowed us to perform well in a weakened capital markets environment,” CEO Brian Moynihan said in the release.

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