Recession, rate hikes, diversity: What’s ahead for banks in 2023
Odds are high for a recession next year as the central bank continues — albeit at a slower pace — to boost borrowing costs in an effort to bring price pressures under control
The end of 2022 can’t come soon enough for many in the banking industry. Sputtering capital markets, job cuts, raging inflation, the crypto meltdown and rising interest rates marked a year of upheaval. Whether 2023 brings revival or more of the same hinges to a large extent on the Federal Reserve.