Strong big bank earnings ‘reflect the economy’
BNY Mellon Wealth Management CEO Catherine Keating joins Influencers with Andy Serwer to discuss why strong bank earnings directly correlate to the economy.
Video transcript
CATHERINE KEATING: I think the-- look, banks are exposed to the economy, right? And so you saw a real downturn last year as the economy went down. You saw banks taking reserves and potential for loan loss provisions. And now you see banks reflecting the economy again, right? It turns out they didn't have as many loan losses as they might have thought. It turns out that as the economy is reopening, there's been a lot of transaction volume. And so you're really seeing banks reflect the economy.
