How a Federal Reserve Interest Rate Hike Hands Over Billions to Big Banks

Big banks around the world are secretly rooting for another U.S. Federal Reserve interest rate hike this week. That's because every Federal Reserve interest rate hike causes an immediate spike in their income. Last year the U.S. Federal Reserve paid out $6.9 billion to the Big Banks, including more than $100 million to Goldman Sachs Group Inc. (NYSE: GS) and more than $900 million to JPMorgan Chase & Co. (NYSE: JPM). Here's how this insanity started - and why it's bound to get worse... Tags: fed interest rate hike , fed interest rates , Fed rate hike , Federal Reserve , federal reserve interest rate , Federal Reserve interest rate hike , FOMC Meeting , U.S. federal reserve To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2016 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post How a Federal Reserve Interest Rate Hike Hands Over Billions to Big Banks appeared first on Money Morning - We Make Investing Profitable .