Dustin Reid on fallout from recent bank failures and the Fed’s response
The Invested
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The Fed and the Terminal Rate, Effectively Not Changed
"I'm not totally convinced that consensus view is going to be the way it plays out," he says. "We could have two or three or four successive failures within a relatively short period of time" The market would say that credit conditions will tighten and small and medium sized banks will lend less, according to BofA-Citibank's chief investment officer for global fixed income John Defterios. But there are thousands of bank balance sheet in the U.S., so we don't know exactly what'll happen.
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