Goldman Sachs analyst on what could be the next catalyst for the banking sector
Richard Ramsden, Business Unit Leader of the Financials Group and Research at Goldman Sachs, joins 'Closing Bell' to discuss the keen interest from bank CEOs to buyback stock and his outlook for 2021. Banks have become a lot more optimistic on their outlook heading into 2021, says Ramsden. Consumer spending has picked up over the course of the last few months. And loans that were put in forbearance in March are starting to cure at a better rate, which makes them feel a lot better about the loan reserves they have, he adds.