Federal Reserve Financial institution of Chicago President Austan Goolsbee mentioned he was nonetheless ready to see if the fallout from the latest failure of two US banks may trigger the economic system to sluggish greater than anticipated.
“How a lot squeezing goes to be coming from the financial institution facet I believe goes to matter for whether or not this economic system goes to decelerate,” Goolsbee mentioned Wednesday in an interview on NPR’s Market. “All people is forecasting some development slowdown for the second half of the yr. How intense that will likely be goes to rely quite a bit on the monetary half.”