Recent banking turmoil could bring the U.S. closer to a recession, Minneapolis Fed President Neel Kashkari said in an interview with CBS' 'Face The Nation.'
Recent banking turmoil could bring the U.S. closer to a recession, Minneapolis Fed President Neel Kashkari said in an interview with CBS' "Face The Nation."
"What's unclear for us is how much of these banking stresses are leading to a widespread credit crunch. And then that credit crunch, just as you said, would then slow down the economy," Minneapolis Fed President Neel Kashkari said in an interview with CBS' Face The Nation.
Kashkari added that Fed officials are monitoring the impact from the fallout of the banking sector "very, very closely," and the current system has the "full support" of the Federal Reserve.
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