Author Topic: Fed expects banking crisis to cause a recession this year, minut  (Read 333 times)

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Offline Ptarmigan

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Fed expects banking crisis to cause a recession this year, minutes show
https://www.cnbc.com/2023/04/12/fed-expects-banking-crisis-to-cause-a-recession-this-year-minutes-show.html

Quote
WASHINGTON – Fallout from the U.S. banking crisis is likely to tilt the economy into recession later this year, according to Federal Reserve documents released Wednesday.

Minutes from the March meeting of the Federal Open Market Committee included a presentation from staff members on potential repercussions from the failure of Silicon Valley Bank and other tumult in the financial sector that began in early March.

Though Vice Chair for Supervision Michael Barr said the banking sector “is sound and resilient,” staff economists said the economy will take a hit.

“Given their assessment of the potential economic effects of the recent banking-sector developments, the staff’s projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years,” the meeting summary said.

The Feds are predicting a recession. I think it will happen.
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Offline Eupher

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Re: Fed expects banking crisis to cause a recession this year, minut
« Reply #1 on: April 14, 2023, 05:58:04 AM »
Did something happen between 2022 and 2023 that I missed? We met the definition of "recession" after two straight quarters of negative GDP last year.

I know SharterJoe keeps telling his lies about his "great economy" and all, but WTF is the Fed talking about?

A new recession after the 2022 recession went away? Or just more recession on top of the old recession, along with the inflation we're still seeing?

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Offline DefiantSix

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Re: Fed expects banking crisis to cause a recession this year, minut
« Reply #2 on: April 14, 2023, 08:45:47 AM »

The Feds are predicting a recession. I think it will happen.

Predicting it? The fed has been flat out orchestrating it for the last 18 months at least.
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