Does the Fed's Framework Still Work? w/ Dennis Lockhart
Real Vision: Finance & Investing
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The Effects of the Credit Crunch on the US Economy
Banks are raising their standards and becoming much more selective in terms of credit. Demand for credit is declining, probably driven by a gradually slowing economy. The Fed can make a judgment on the substitutability of bank credit contraction versus another rate hike. And I think they're probably now in a situation of being comfortable making that kind of judgment.
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