ET Now Live: Increasingly cautious American banks are reluctant to lend to businesses and households. And a lack of loans – or credit tightening – will undoubtedly slow down the US economy.
US Federal Reserve’s Financial Stability Report mentions that banks are concerned about the economic outlook, credit quality and funding liquidity.
Banks are shrinking loans sizes – and increasing the cost of borrowing.
And as if all this were not enough – banks say consumer demand for credit cards, car loans and other products is also softening.
So, we ask – Is American banking system safe or more skeletons could tumble out? How much more economic distress is on the cards in the months ahead? On this edition of India Tonight, Tamanna Inamdar speaks with Craig Erlam, Senior Market Analyst, OANDA; Manish Singh, Chief Investment Officer, Crossbridge Capital; and Peter Cardillo, Chief Market Economist, Spartan Capital Securities to understand what it means for the US and Indian markets.
#usrecession #stockmarket #bankingcrisis
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