Mississippi’s bank deposits may help tell nation’s inflation story

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rssfeeds.clarionledger.com – Mississippi – 2022-09-22 13:11:39

With inflation still hovering at 40-year highs nationally, a trend within Mississippi could foretell good .

Mississippi banks reported deposits for the year ending in June of 2022 at $4 billion more than in 2021. And while a rise of $4 billion in deposits in one year is significant, the numbers are trending down.

Gordon Fellows, the president of the Mississippi Bankers Association, says the influx of money into the banking system is a byproduct of federal funds from the pandemic, which has been a driver of inflation throughout the nation.

“With the pandemic, deposits have been up…

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