CFOs of Goldman Sachs and Bank of America upbeat about the Fed's rate cut [Fortune]
Thermon Group Holdings, Inc. (THR)
Last thermon group holdings, inc. earnings: 2/6 07:55 am
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Source: Fortune
But the Federal Reserve announced last week a 50 basis point cut to its benchmark interest rate, which is the first rate cut in four years. And big bank CFOs are optimistic about this move. “The Fed appears to be winning the inflation battle,” Bank of America CFO Alastair Borthwick said during the BofA Securities Financials CEO Conference on Wednesday. Inflation is now anywhere between 2% and 3%, so there's a low growth, low inflation environment, Borthwick said. There's potential for an “upward sloping yield curve” in the future, which tends to be a good environment for the U.S. and for banks, he said. “We're encouraged by all of that,” he said. The Federal Open Market Committee projected lowering rates another half point by the end of the year, expecting rates to eventually fall to 2.9% through 2026. BofA economists predict a half-point cut in November. After that, they see a series of quarter-point cuts until the fed funds rate hits 2.75%-3% sometime in 2025, down from 4.75
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- CORRECTION FROM SOURCE: Thermon Reports Second Quarter Fiscal 2025 Results [Yahoo! Finance]Yahoo! Finance
- CORRECTION FROM SOURCE: Thermon Reports Second Quarter Fiscal 2025 Results Accesswire
THR
Earnings
- 11/7/24 - Beat
THR
Sec Filings
- 12/13/24 - Form 4
- 12/12/24 - Form 144
- 12/6/24 - Form SC
- THR's page on the SEC website