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ABC News: Fed Staff Expects Banking Crisis To Cause A Recession This Year

ABC News, April 13, 2023, Fed Staff Expects Banking Crisis To Cause A Recession This Year

“Given their assessment of the potential economic effects of the recent banking-sector developments, the staff’s projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years,” according to the publicly posted minutes from the meeting, which took place over March 21-22 right after the collapse of Silicon Valley Bank and Signature Bank.

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