By Saeed Azhar, Niket Nishant and Lananh Nguyen NEW YORK (Reuters) - U.S. banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic
Rising prices and higher borrowing costs have led consumers and businesses to curb spending, and since banks serve as economic middlemen, their profits decline when activity slows.
US banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking.
The Federal Reserve's campaign to tighten financial conditions has resulted in notably increased borrowing by U.S. banks at the central bank's discount window, normally a last-resort funding source.
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