Peter Rudegeair
speaker
756 appearances
12 recordings
1 series
first heard Nov 2017
last heard May 2021
Peter Rudegeair’s voice in public audio — every appearance, attributed to the second.
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Appearances
companies can absorb higher borrowing costs.
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These weren't unanticipated.
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A lot of folks have issued hundreds of billions of dollars in bonds and have untapped lines of credit that they can use in case they need to expand.
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So there's really not a lot of negativity coming from the bank chiefs on the corporate sector either.
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What you'll see over time is that right now banks are in this kind of sweet spot where they get to enjoy some of these higher rates that they can charge on loans.
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After a while, though, as those interest rates that the Federal Reserve increases after they build up,
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Consumers are going to start expecting maybe a higher interest rate on their savings account and businesses too when they park their deposits at a bank.
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They're going to start saying, wait a minute, the Fed rate is here and I'm still being offered peanuts on my savings account.
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They're going to start demanding to be paid more.
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So banks' profit margins are going to be impacted by that over time.
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We're still in that sweet spot though where they can get more in lending income but don't have to pay that much to depositors.
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My pleasure.
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That's right, with the expectation that all of PayPal's users in the U.S.
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will be able to invest through PayPal into Acorns by the probably first quarter of 2018.
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That's absolutely right.
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So Acorns has kind of popularized this idea called micro-investing or robo-advisory in kind of micro-investing in which they take transactions that you might make through PayPal or through credit cards, kind of round them up, and then invest the spare change in things like exchange-traded funds of stocks.
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So it's really trying to get people to save and invest more automatically so you don't have to really do anything.
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And PayPal, as you say, kind of has the broad user reach to really turbocharge Acorns' customer base.
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So Acorns currently has about 1.6 million accounts actually investing.
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As you mentioned, PayPal has well over 200 million accounts.
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