Fallout over ‘higher for longer’ interest rates will continue to pressure liquidity and margins for U.S. banks in 2024, underpinning the maintenance of a deteriorating sector outlook according to Fitch Ratings in its outlook report . Despite expectations for lower interest rates in the second half of next year, “U.S. banks will be challenged to quickly follow suit on deposit rates while retaining their deposits against a stronger appetite for higher yields and increased competition from money market funds and other high-yielding alternatives,” said Senior Director Theresa Paiz Fredel. “Higher rates will naturally ... (full story)