[REGNUM] The head of the Minneapolis Fed acknowledged the danger of a recession in the United States
The problems that the US banking system is experiencing could have a negative impact on the real estate market and construction and bring the US economy closer to recession. This was stated on March 26 by the head of the Federal Reserve Bank (FRB) of Minneapolis, Neil Kashkari, on the air of CBS News .He confirmed that the problems of US banks, affecting the construction sector, "absolutely" bring the country closer to a recession.
According to the banker, it is still unknown whether the current difficulties in the financial sector will lead to a massive collapse in lending and how much they can affect the national economy.
Kashkari acknowledged that the US banking regulator is not perfect and could be wrong.
He stressed that the country's banking system continues to face "fundamental challenges" and "regulatory difficulties."
Recall that within five days after the 16th largest US bank Silicon Valley Bank (SVB) went bankrupt on March 10, American depositors urgently withdrew almost $100 billion from their bank accounts.