**Bank Safe During Recession? Here's What The Data Says**
J.P. Morgan just raised recession odds to 35% (was 25% mid-year), and the jobs report got a scary revision: 818k fewer positions added than thought. So naturally everyone's asking—should I yank my cash out of the bank?
Short answer: No. FDIC insurance covers up to $250k per account, and since 1934, zero depositors lost insured funds. Period.
But here's the context: During the Great Depression (1930-1933), over 9,000 U.S. banks failed and depositors lost $1.3B ($27.4B in today's money). Banks typically collapse from panic withdrawals, ba
J.P. Morgan just raised recession odds to 35% (was 25% mid-year), and the jobs report got a scary revision: 818k fewer positions added than thought. So naturally everyone's asking—should I yank my cash out of the bank?
Short answer: No. FDIC insurance covers up to $250k per account, and since 1934, zero depositors lost insured funds. Period.
But here's the context: During the Great Depression (1930-1933), over 9,000 U.S. banks failed and depositors lost $1.3B ($27.4B in today's money). Banks typically collapse from panic withdrawals, ba