Fed: Growth May Be Hampered by Tight Credit

by Benjamin Domenech on 12:03 am September 23, 2009

The Federal Open Market Committee is likely to “maintain its assessment that ‘tight’ bank credit is impeding growth, said economists including former Fed Governor Lyle Gramley. Lending contracted for five straight weeks through Sept. 9, a drop that in part reflects Fed orders to banks to raise more capital and toughen lending standards, analysts say.”

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