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Tuesday, June 18, 2024

A banking crisis means the Fed has a new inflation ally that it never wanted: A credit crunch

A banking crisis means the Fed has a new inflation ally that it never wanted: A credit crunch

BY PAUL WISEMAN AND THE ASSOCIATED PRESS, as posted at Fortune

The Federal Reserve is getting some unwanted help in its drive to slow the U.S. economy and defeat the worst bout of inflation in four decades: A cutback in bank lending.

The upheaval in the financial system that’s followed the collapse of two major U.S. banks is raising the likelihood that lending standards will become sharply more restrictive. 

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