Bank Turmoil Threatens Economy
May 08, 2023
The small but growing wave of bank failures is adding fuel to the recession fire. Economists at the Federal Reserve believe the banking crisis has elevated the probability of a recession and reduced the likelihood of a soft landing. On May 4, the KBW Regional Banking Index hit its lowest mark since November 2020. The index (NASDAQ: KRX) reflects the performance of U.S. companies that do business as regional banks or thrifts.
The banking crisis will tilt US into recession, say Fed economists | cnn.com