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Concern over what will happen now that the Fed has raised the interest rate for the first time in a decade—and with further increases on the way—is fairly widespread. But any worries are based largely on someone’s station.
The results of a telephone survey of over 1000 consumers, released Wednesday, found that 41 percent of Americans believe rate increases could have dire effects on their personal finances and on the U.S. economy in general. However, these concerns are not spread evenly across the population. According to Bankrate, age, economic status, and education level play major roles in how high someone’s anxiety might be.
As expected, fourth quarter earnings for Goldman Sachs took a huge blow as a result of last week’s announced settlement for 5 point 1 billion dollars to resolve claims of mortgage-backed securities fraud. The investment banking firm’s Q4 2015 net earnings totaled 765 million dollars, approximately one-third of the 2 point 17 billion dollars net earnings reported for the prior-year quarter, according to the firm’s Q4 and full year 2015 earnings statement. Goldman Sachs net earnings for the full year of 2015 were 6 point 08 billion dollars, down from 8 point 48 billion dollars in 2014.
