The Federal Reserve's decision to keep rates at zero won't bruise banks, but it could force them to downshift their asset sensitivity.
Perhaps the most highly anticipated meeting ever of the Federal Open Market Committee passed Thursday with no change to the zero-rate policy of the past six and a half years. That is surely a disappointment to bankers who hoped for an end to years of margin compression, but it hardly means the sky is falling — banks can continue to survive and thrive without any rate relief.
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