FAP, April 27 / PRNewswire-FirstCall-Asianet /-- Bob Michele, chief investment officer of JPMorgan Asset Management fixed income, said that banking pressure in the United States is still at a crisis level, because deposit outflows are because consumers need money to buy higher-priced goods, not just to pursue higher returns. "what we are seeing is that deposit outflows do not occur out of thin air, but because companies and residents spend a lot of money, everything is more expensive and financing costs are higher," Michele said. "you are consuming savings because grocery prices are rising." (Bloomberg)