2023-04-15 20:11:06
(Washington) The recent crisis in the banking sector might lead American banks to be more cautious, and less easily grant loans to households and businesses, according to the American Secretary of the Treasury, Janet Yellen, who nevertheless anticipates “moderate growth” in the United States GDP.
U.S. banks might become “a little more cautious” in their operations, Joe Biden’s Secretary of Economy and Finance said in a CNN interview that will air on Sunday, but excerpts from it were published on Saturday.
This might lead to a tightening of credit conditions which, in parallel with the rise in rates, might weigh on economic activity, but also contribute to slowing down inflation.
On Tuesday, at a press conference, Janet Yellen had however indicated that she had “not seen any evidence, at this stage, of a tightening of credit conditions, although this is a possibility”.
Despite the turmoil in the banking sector, the Treasury Secretary also told CNN that her forecast for the US economy remains the same: “I think the outlook remains for moderate growth and a still labor market. strong with falling inflation.
“I don’t see anything at this time that is dramatic enough or significant enough in my view to significantly change the outlook,” she detailed.
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