Jay Menozzi News Today

The US banking sector had a bad month in August, with several banks receiving downgrades from credit-rating agencies, capping off weeks of consternation about the sector’s profitability and vulnerability after a series of large bank failures early in 2023. Most banks are seen as stable, but the downgrades portend trouble ahead for some.

A major ratings company warned it may downgrade the outlook for more than 70 U.S. banks, including some of the largest institutions, a move that could push interest rates for consumer loans higher.

More has to be done to bring the sort of data streams used by the private sector to make better decisions; when mistakes get made and housing supply suffers, it’s poor...