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kbig22432 t1_j18poq5 wrote

Reply to comment by mrpoops in Leaked internal document shows Amazon expects a soft landing for the US economy and little chance of a recession, a rosier outlook than many other forecasters by Sorin61

If the economy was never going to crash, then why are banks having such a hard time?

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mrpoops t1_j18q2l3 wrote

I work at a bank. Mortgages are way down because interest rates are up to ease inflation. The bank I work for is treating it like temporary pain, they aren’t hunkering down or anything. They’re gonna push savings and checking accounts and other traditional stuff in 2023 and wait for the fed to ease rates.

Long term numbers all look somewhere between decent and really good, actually.

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kbig22432 t1_j18qdvu wrote

Thanks for responding! Good to know your bank has a plan for this.

What do you think of this:

https://www.federalreserve.gov/newsevents/pressreleases/bcreg20221014a.htm

What might cause the FED to be looking into this possibility?

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mrpoops t1_j18qsg6 wrote

Totally normal. They have a calendar filled with this stuff:

https://www.federalreserve.gov/regreform/proposals-for-comments.htm

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kbig22432 t1_j18ss0x wrote

Makes sense to ask the citizens for ideas to proactively address potential problems. The public, contrary to what the news would have you believe, isn’t just filled with idiots haha. Thank you again for responding.

I am curious what your thoughts are on the Dollar Endgame theory predicting hyperinflation in the near future.

https://www.reddit.com/r/Superstonk/comments/stz5lm/hyperinflation_is_coming_the_dollar_endgame_part/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

Obviously this is an involved question, so feel free to tell me to pound sand if you want haha. It’s not often I have the ear of someone in banking, might as well get your perspective!

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mrpoops t1_j18u3zi wrote

Oh, I’m not a banker. I’m an IT engineer. I’m just cc’d on all the stuff going on lol.

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kbig22432 t1_j18vlrk wrote

Haha fair enough. In any case, it’s an interesting read for non bankers as well.

In any case, happy holidays and may you have a safe new year.

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aquarain t1_j190261 wrote

Some banks make money off of mortgage originations. Somebody buys a house and they write the mortgage and get a healthy spiff. Then they turn around and sell the mortgage before the ink is dry and make bank.

No mortgages, that money is gone. When mortgage rates go up as fast as they have there stops being new mortgages. When they go up higher than they have been for a decade the refinance mortgage business completely halts.

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