Heavy duty banking stat

Since the Fed started raising rates, a record $870 billion of deposits have left US banks.

This is by far the biggest deposit flight in US history and it’s not even close.

That’s nearly $73 billion PER MONTH or $2.5 billion PER DAY.

Needless to say, why keep your money in a… pic.twitter.com/dkuXQHqKrb

— The Kobeissi Letter (@KobeissiLetter) October 1, 2023