Panic Phase of Banking Crisis Ends But Experts Warn it Isn't Over

JPMorgan Chase's takeover of First Republic has ended the panic phase of the banking crisis, but experts warn that this is only the beginning of the chronic phase. The economy is still under stress with key decisions on interest rates and earnings from major companies like Apple, along with a jobs report that is expected to show a slowdown in hiring. Tighter credit conditions, inflation, and interest rates are likely to impact consumer spending, while pressure mounts on the Fed to hold the line on monetary policy despite concerns of a possible contraction. Follow Next News for more daily breaking economic news.

Read More: https://www.cnbc.com/2023/05/01/the-first-republic-deal-has-come-at-a-crucial-point-for-the-markets-and-economy.html

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