US economic activity likely to be slowed by banks’ credit tightening in wake of SVB failure, Fed's Jefferson says
By Neil Roland ( May 31, 2023, 19:24 GMT | Insight) -- US Federal Reserve Governor Philip Jefferson said banks will likely tighten credit supply on the heels of the collapse of Silicon Valley Bank and two other firms, slowing economic activity. “While the resilience of the financial sector will limit the spillovers from recent events, I expect those strains to lead to a further tightening in credit supply from banks that will weigh on economic activity,” he said.US Federal Reserve Governor Philip Jefferson said banks will likely tighten credit supply on the heels of the collapse of Silicon Valley Bank and two other firms, slowing economic activity....
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