March 10, 2023

LOCKED US Economy: Part I – Credit Freeze

  • It appears that monetary policy has done little to slow growth. But it works with a lag
  • Indeed, our models suggest the Fed’s hard work is paying off via materially tighter credit
  • This is now spreading through lending to US companies of all sizes and consumers
  • The impact on consumption, capex, employment, and broad growth will be chilling
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March 10, 2023

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