The banking crisis has heightened risk of an economic downturn, the Wall Street bank claims The recent turmoil in the financial industry caused by the collapse of Silicon Valley Bank (SVB) has made a US recession more likely, JPMorgan Chase CEO Jamie Dimon has warned, noting that lenders are now tightening credit. “We are seeing people reduce lending a little bit, cut back a little bit and pull back a little bit,” Dimon said in an interview with CNN on Thursday. The tumult within the industry won’t necessarily invoke a recession, he said, but “it is recessionary.” Dimon’s comments follow his statement this week th
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