It is believed that Fed is very likely to raise the Federal Fund rates in the next a couple of years. I wonder if the major banks like JPM BoA Citi etc., will necessarily benefit (become more profitable) from such hawkish money policies simply because they will have higher interest rates, or suffer from these policies, since less people could afford to borrow money from them.
Although this intuitively makes sense, the reason that I believe this might not be true and thus want to ask experts is that, in 2018, the share prices of those banks dipped when there was a rate hike. But I am not sure if there were any causation since the stock prices don't always reflect the fundamentals of companies/banks.
