Impacts of the Labor Market and Bank Failures on the Recession
U.S. Economic Outlook: April 2023
Recent banking failures and labor market shifts have left businesses scrambling to prepare for potential fallout.
In the April Economic Outlook report, Principal Economist and Director of Analytics, Danielle Marceau, dives into the future trajectory of the U.S. economy and the impact of the recent turmoil in the banking sector. Monetary policy, tighter lending standards, dwindling savings, and negative consumer sentiment are expected to be the main drivers of the economic downturn beginning around mid-year.
The report includes the following:
Federal Reserve’s policy response to the banking failures
Impacts of a cooling labor market
Increased rigidity in borrowing credit for businesses and individuals
The results of shifting consumer finances
Read the report to learn more.
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