One sector that is especially sensitive to rising interest rates is banking, and U.S. Bancorp (NYSE: USB) is a lender in prime position to take advantage of this environment. As a result of those policies, along with semiconductor shortages, supply chain disruptions, and rebounding consumer spending, inflation has risen to rates not seen in decades. While this type of investment hurt the NIM in the quarter, it was made to give the bank capital and flexibility to take advantage of rising rates in 2022 and 2023 to generate higher earnings in long run.