St. Louis, MO – March 24, 2021 – PMA, a premier full-service provider of financial and advisory services to local governments, is pleased to announce that Dr. John Jungmann will be joining the team as Coordinator, Sales and Relationship Management.
Featured Market Data: Is Inflation Transitory?
It seems inflation is on everyone’s mind. Consumers are seeing prices rise most everywhere – from the gas pump, to the grocery store and home prices. Year-to-date, CPI has risen 3.3% in 2021 compared to 1.2% in 2019 and -0.8% in 2020. Many members of the Federal Reserve are also talking about inflation risks.
Recent News: US Banks Set Net Income Record, More Steam Ahead?
The US Banking industry set an all-time high in net income, which was 21% higher than the previous record set in the second quarter of 2019. Two transitory factors were largely at play during the quarter: negative provisioning (loan loss reserves being released, providing an earnings tailwind) and a widening discrepancy between loans and deposits, which has subsequently pressured Net Interest Margin (NIM).