"Credit Suisse is in principle a much bigger concern for the global economy than the regional U.S. banks which were in the firing line last week."that Fed Chair Jerome Powell was bent on continuing to raise interest rates even amid mounting warnings about the potentially devastating impacts on millions of workers whose wages and jobs are on the line.
But faced with growing panic in the financial sector, Powell is now widely expected to step on the brakes—at least temporarily—at the Fed's policy meeting next week. Powell is himself a former investment banker, and Wall StreetWednesday that"expectations for the U.S.
"Credit Suisse is in principle a much bigger concern for the global economy than the regional U.S. banks which were in the firing line last week," Andrew Kenningham, chief Europe economist with Capital Economics,Our work is licensed under Creative Commons . Feel free to republish and share widely.