The U.S. as a nation is coming ever closer to what has become known as the fiscal cliff, the automatic tax increases and spending cuts aimed at reducing our national debt. But if Congress can't find a more tempered bipartisan solution to the debt issue, the drastic measures coming from the fiscal cliff may severely impact our economy in the short term, and many business and financial institutions are concerned.
But what about the big banks? Will this be hard for them too, or are they big enough to weather the storm? Motley Fool analyst Matt Koppenheffer takes a look at how the coming economic environment might impact the big banks.
Fool contributor Matt Koppenheffer owns shares of Bank of America. The Motley Fool owns shares of Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo. Motley Fool newsletter services recommend Goldman Sachs and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.