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U.S. Bancorp USB

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Morningstar’s Analysis

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More of the Same From the Fed in Latest Meeting; We Still Expect Accommodative Lean for Some Time

Eric Compton, CFA Senior Equity Analyst

Analyst Note

| Eric Compton, CFA |

In its latest statement on Jan. 27, the Federal Open Market Committee unsurprisingly held the federal-funds rate at 0.0%-0.25%. Though some of the voting members changed because of the new year, the vote was still unanimous. The Federal Reserve continues to signal that it will remain very accommodative for some time and that it plans to hold off on any less accommodative measures until the recovery in the labor market and the economy, along with a recovery in inflation, is essentially completed. We anticipate that the FOMC will be in a holding pattern for some time, with the meetings and releases likely to be relatively mundane for a while.

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Company Profile

Business Description

As a diversified financial-services provider, U.S. Bancorp is the nation's fifth- largest bank with branches in well over 20 states, primarily in the Western and Midwestern United States. The bank offers many services, including retail banking, commercial banking, trust and wealth services, credit cards, mortgages, and other payments capabilities.

Contact
800 Nicollet Mall
Minneapolis, MN, 55402
T +1 651 466-3000
Sector Financial Services
Industry Banks - Regional
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type High Yield
Employees 69,651

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