15 Cheap Growth Stocks to Buy

Ramish Cheema
11 min read

In This Article:

In this piece, we will take a look at the 15 cheap growth stocks to buy. For more stocks, head on over to 5 Cheap Growth Stocks to Buy.

Growth is the buzzword in the economy these days. This is due to the high turbulence within both the global economy and the American economy which is providing a nightmarish situation for analysts and U.S. officials. Consider several statements made by the U.S. Secretary of Treasury, Janet Yellen for instance. In America, there are growing fears of a banking crisis, as many that were against a rapid interest rate hike by the Federal Reserve have used the failure of SVB Financial Group (NYSE:SIVB) and other banks to point out that the system is under stress and that the Fed needs to stop raising rates. After SVB's collapse, and problems at other banks, fears spread in America of bank deposits being unsafe, and in order to prevent future bank runs, many called for the U.S. government to guarantee all of the $19.2 trillion bank deposits to ensure that people don't take their money out of the system and cause a collapse of a precariously built industry.

Within this chaos, Ms. Yellen is doing all that she can to assuage analyst and economist concerns. The Secretary initially started out by stating to the Senate Appropriations subcommittee on Wednesday, March 22, 2023, that her government was not considering any action to blanket insure all deposits in the U.S. banking system. These statements came amid strong opposition by the Republican party to oppose any such move, following a policy against government largesse. However, a day later, she talked back about the severity of her comments, as she stated that the government was willing to guarantee deposits at any bank that might face a situation similar to the bank run at SVB that took place over a weekend and left both management and observers surprised with its severity and quickness. Crucially still, we'll have to take her statements apart to see a rapid shift in just days.

For instance, take Ms. Yellen's statements to the American Bankers Association Conference in Washington on Tuesday, March 21, 2023 which outlined:

“Our intervention was necessary to protect the broader US banking system, and similar actions could be warranted if smaller institutions suffer deposit runs that pose the risk of contagion."

Then, just a day later, her statements that we've mentioned above were precise as follows:

"These are tools we could use again for an institution of any size if we judge that its failure would pose a contagion risk."

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