Here's What Powell's NOT Telling Us About Interest Rates [Forbes]
First Citizens BancShares, Inc. - Class A (FCNCA)
US:NASDAQ Investor Relations:
firstcitizens.com/about/who-we-are/annual-report
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Source: Forbes
Committee meeting on September 20, 2023 at the Federal Reserve in Washington, DC. In the face of slowing inflation and strong consumer spending, the Federal Reserve announced that it will keep the interest rate steady, holding the benchmark borrowing rate to a range of 5.25% to 5.5%. (Photo by Chip Somodevilla/Getty Images) “Don't fight the Fed” is my top investing rule—but what the heck do we do when Jay Powell says one thing and then does another? We buy bonds! Below we'll dive into a bond fund kicking out a sweet 9% yield and sending payouts our way every month. But first, let's get to the heart of the Fed chief's doublespeak. Did you watch Powell's press conference last week? If you're like me, you probably weren't surprised by most of it. He did his usual tough-guy talk on rates. But then, almost as an aside, he said the Fed is slowing its campaign to shrink its balance sheet—known as “quantitative tightening.” PROMOTED That's a big deal—and a key driver for our 9%
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FCNCA
Earnings
- 4/25/24 - Beat
FCNCA
Sec Filings
- 5/10/24 - Form 4
- 5/9/24 - Form 10-Q
- 5/7/24 - Form 4
- FCNCA's page on the SEC website