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6min chapter
Danielle DiMartino Booth: A Banking Panic Makes The Fed’s Job More Difficult
Forward Guidance
Is the Fed Backstopping Commercial Real Estate?
We're going into a time when the Senior Loan Officer survey that the Fed produces is frozen. All those lending standards are being clamped down at a time when your riskiest delinquency levels are back to where they were in 2009. The good players survive, but it's much more difficult for the credit that greases the wheels of the US economy. We've gotten so far away from running tight chips. Elon Musk has taught companies across a wide spectrum beyond the tech space that there's too much fat. And if we have the continuation and acceleration of the white collar recession begin to spread into the cyclicals, then we're seeing what could be a protracted downturn.
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