March 17, 2023 20:02 GMT
MNI PODCAST: FedSpeak-Bank Crisis Could Lower Rate Peak-Stein
- Ex-Fed Governor Jeremy Stein says he's worried the U.S. banking crisis will lead to a credit crunch.
- Weaker lending could lead to a more rapid decline in inflation, allowing the Federal Reserve to raise rates less than it was previously expected to.
- "There’s clearly some blame for the regulators. There’ll be a process of trying to attribute what went wrong," said Stein.
Listen to the full podcast here.