“Bank of America Braces for Massive Bond Losses as Yields Soar”

“A sharp rise in rates since the end of the third quarter widened losses on bank securities portfolio and could become an investor issue again when banks start reporting their fourth-quarter results in the next week.

Bank of America has the largest unrealized losses in the banking industry and could be a focus of investor attention…”

https://www.msn.com/en-us/money/topstocks/ar-BB1r8iBZ

Am I missing something? Rise in rates? Interest rates? Last time I check the Fed lowered interest rates. I know I took a 2 month break but I doubt they raised rates. Somebody’s lying here. Just to be sure I’ll check right now:

“Fed cuts by a quarter point, indicates fewer reductions ahead”
https://www.cnbc.com/2024/12/18/fed-rate-decision-december-2024-.html

Ok, this is extremely important what I’m about to say. Is this Bank of America lying or is it CNBC? Its bad either way but this is seriously a huge problem if its actually the bank lying.