Here's Why Bank of New York Mellon Welcomes Rising Rates
It's still early in the year, but it's already looking like the biggest economic impact in 2022 will be related to the actions of the Federal Reserve. Shortages and supply chain issues related to the COVID-19 pandemic have sparked outsized inflationary pressures that haven't been seen in decades. To keep this inflation in check, the market is expecting multiple rate hikes that could result in an increase of 75 to 100 basis points in the Federal Funds rate.
While rate hikes are generally bad news for many stocks, one stock in particular looks to potentially benefit: Bank of New York Mellon (NYSE: BK). Let's take a look at why.
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Source Fool.com
