Rhys Mendes will become Bank of Canada deputy governor in July while Biden has made two Federal Reserve nominations
Tighter credit standards are expected to be followed by a reduction in lending
The Fed describes the banking system as 'sound and resilient' but notes the impact of a pullback in bank lending remains uncertain
Officials want to see inflation decline consistently before considering major policy shifts
SVB “remained well-rated, even as conditions deteriorated,” central bank report says
Inflation slowed to 4.2% but much of that reflects lower gas prices
Inflation still above 2% target “so monetary policy needs to be tightened further,” board member Waller said
Mild U.S. recession forecast to follow pullback in consumer, business loans
But core inflation was 5.6% in March
Barr anticipates higher capital, liquidity standards needed for American banks with more than $100B