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John Campbell Speaking to a class

Atlanta radio station WABE talked with Terry accounting professor John Campbell for a story on Georgia-based banks reporting $3 billion in profits in 2016, a 5 percent increase over the previous year.

Campbell said Georgia banks are tracking the growth in the state’s overall economy.

"When consumers are confident, businesses are confident,” he said. “They're borrowing money, and loan balances have increased, and the credit quality of those loans is better."

Campbell also pointed to the Federal Reserve’s recent moves with interest rates.

"They’re increasing rates, which is a sign that they believe that the economy is growing and hot and needs to be tempered a bit with higher interest rates to curb inflation," he said.

The full article is available online.