Interest rate drops might come in multiple stages, possibly four total 1% cuts to get us down to around 1% fed target rate from 5% (or whatever it is now). Main loser in rate drop is Swiss/EU banks currently printing profits using rate arbitrage. Estimated 40% of benefit of higher US rates being collected directly by Swiss/EU banks (and likely more indirectly).
Interest rate drops might come in multiple stages, possibly four total 1% cuts to get us down to around 1% fed target rate from 5% (or whatever it is now). Main loser in rate drop is Swiss/EU banks currently printing profits using rate arbitrage. Estimated 40% of benefit of higher US rates being collected directly by Swiss/EU banks (and likely more indirectly).