Banking Summary
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Inflation expectations have stabilized, according to the Federal Reserve Bank of New York, with consumer inflation expectations holding steady in November. Job security perceptions have also improved, reaching the strongest level of the year.
Meanwhile, the banking sector is closely watching the upcoming Federal Reserve meeting, scheduled for December 9, where a rate cut is anticipated. However, analysts caution that this could be the last rate cut for some time, as the Fed grapples with the economic implications of inflation and employment trends.
Additionally, Fitch Ratings has flagged risks for U.S. banks exposed to cryptocurrency, underscoring the ongoing scrutiny of financial institutions in the evolving economic landscape. In a related development, JPMorgan Chase CEO Jamie Dimon addressed accusations from Trump Media CEO Devin Nunes regarding the alleged debanking of the company, asserting that such claims are unfounded and urging people to stop spreading misinformation.