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Banking stress increases risk of U.S. recession, warns Fed's Kashkari

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Source: CNBC
Banking stress increases risk of U.S. recession, warns Fed's Kashkari
Photo: CNBC
TL;DR

Minneapolis Fed President Neel Kashkari has said that the latest turmoil in the US banking sector could bring the country closer to a recession. 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. The banking system has a strong capital position and a lot of liquidity and has the full support of the Federal Reserve and other regulators standing behind it.

Topics:businessfinance#credit-crunch#federal-reserve#finance#neel-kashkari#recession#us-banking-sector
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  1. Fed's Kashkari says stress in banking sector brings the U.S. closer to recession  CNBC
  2. Fed's Kashkari: Banking stress brings U.S. closer to recession - CBS  Yahoo Finance
  3. Minneapolis Fed chair Neel Kashkari says "fundamentally, the banking system is sound"  Face the Nation
  4. Fed's Kashkari Says Bank Strains Bring Risk of Recession Closer  Bloomberg
  5. Some losses still need to work through the banking sector, says Fed's Kashkari  MarketWatch

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