Banks Want Higher Interest Rates
Is 2014 the year banks finally start making more money on corporate and consumer loans?
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Banks have had a good run since being bailed out by taxpayers in the financial crisis. By lowering its target interest rate to almost zero in 2008, the Federal Reserve allowed the banks to pay much less for the money they borrow to lend and invest. That helped the four largest U.S. banks by assets report about $214 billion in profits from the end of 2008 through the third quarter of this year.