Banking Crisis Threatens Us Economy As Federal Reserve Weighs Policy Options

In recent days, a banking crisis has emerged as a powerful new constraint on a red hot US economy that the Federal Reserve has struggled for more than a year to cool. The crisis has been triggered by runs on regional US banks and wild gyrations in stocks and bonds, causing bankers to abandon attempts to raise new funding for their corporate clients. Not a single investment-grade company sold bonds in the US market last week, marking the first sign of what’s set to be a broad-based hit to the provision of credit across the economy.

A rush for safety outside of banks saw money-market funds attract the biggest weekly inflow since April 2020. With deposits already sliding in the run-up to three bank collapses that triggered the biggest selloff in financial stocks since the Covid panic of spring 2020, the pace of lending to companies and households alike is bound to shrink, according to economists.

FOR MORE INFO: metaversegazette.net

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