Economists from J.P. Morgan Global Research offer their analysis on the economic data, macro trends and monetary and fiscal policy impacting the world today.
Episodes
Tuesday Mar 21, 2023
Tuesday Mar 21, 2023
Nora Szentivanyi is joined by Michael Feroli to discuss the Fed’s response to the recent banking stress, historical parallels and the likely economic fallout. A rough estimate is that slower loan growth by mid-size banks could subtract 0.5-1% off the level of GDP in coming quarters. We believe this is broadly consistent with our outlook of a Fed-induced recession later this year. The Fed isn’t done, in our view, and we look for another 25bp hike this week, and a final hike in May.
This podcast was recorded on Mar. 21, 2023.
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