Richard X. Bove is the chief strategist at Rafferty Holdings and the author of "Guardians of Prosperity: Why America Needs Big Banks" (2013)
Richard X. Bove is the chief strategist at Rafferty Holdings and the author of "Guardians of Prosperity: Why America Needs Big Banks" (2013)
The taxpayer loses approximately $32 billion because the Fed has seen its interest payments increase and its expected interest income decrease.
When pundits scratch their beards as to why bank stocks have done so poorly for 18 months, they may consider what investors know.
China and its allies have placed a great deal of emphasis on using the yuan as a dollar replacement in many parts of the world.
The Fed gained its independent status in 1951, almost 40 years after its founding, when it signed an Accord with the Treasury. Prior to that time there was little thought that the institution would be independent.
Bank capital is under severe pressure because managements are giving away literally hundreds of billions of dollars in stock buybacks and what remains is being eroded by higher interest rates.
The notable banking analyst believes this central bank might even be closer than Richard Nixon's Fed was to him during his Presidency.
Notable banking analyst Dick Bove discusses why the Federal Reserve is too tight and must reverse course for this economic expansion to continue.
Notable banking analyst Dick Bove makes the case for why the Federal Reserve is too tight already.
Revenues from investment banking, trading, brokerage commissions, and fiduciary fees have only grown modestly since 2009, and it appears the customer actually made more money.
Persistent rate increases in the United States may be having very negative impacts on the global economy.
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