This does not look good for the economy moving forward. Not so much because of the individual downgrades to certain banks noted here, but because coupled with current Federal Reserve directives mandating higher capital reserves for banks over 100B in assets which many of these are, it forces banks to reduce lending on all fronts which is NOT GOOD for economy.

Written by Michael E Dehn

Founder and CEO of Metro Pulse a continually running enterprise since May 1980.

August 8, 2023