No. of Recommendations: 4
Hi all from TMF 😀😀
finance.yahoo.com - Apple launches high yield savings account with goldman in payments pushSo AAPL with it's customer base of 1.36 million comfortably off customers globally ... will be marketing this account paying 4.15% at Goldman's FDIC insured bank. No doubt with some super fintech like access features. What's not to like?
What's not to like is the average bank paying less than 1% while money funds are also offering well over 4%. But if those banks have lent money out or bought securities earning less than 4% ... they simply can't compete. So either by losing deposits or by losing capital ... they will have to contract lending, contracting the money supply ... squeezing the economy ... even more than the Fed is doing by their balance sheet rundown.
Slow burning stockmarket time bomb ticking away?
... or offset by infrastructure spending??
