Today, as the FOMC raises rates by another 0.25% and signals more hikes in the future, Novantas proprietary data makes it clear that the sands have shifted. Commercial lines of business are suffering from balance declines and remixing into higher-cost products. Consumer brick-and-mortar money market deposit account balances are shrinking for the first time in years. Direct bank CD prices have risen to the critical 2.00% level, exhibiting a beta of more than 100% since December. Many of these recent trends are likely to accelerate if rates continue to climb. As a result, banks face tactical pricing decisions with much ...