Slowly but surely, cash is moving away from banks as depositors increasingly shift funds to products that pay higher yields.
That much has become abundantly clear during the current earnings season whereby the big banks have reported an acceleration in deposit outflows especially from wealthy individuals as interest rates continue rising across the board. Main Street depositors have started following suit as well after the Fed hiked short-term rates for the 7th time in less than three years…. CLICK for the complete article
