Bank Turmoil Squeezes Borrowers

New York Times: “The question now is whether banks and other lenders will pull back so much that the U.S. economy crashes into a severe recession. Until comprehensive data is released — a Federal Reserve survey of loan officers nationwide is due in early May — economists are parsing stories from small businesses, mortgage originators and construction firms to get a sense of the scale of the disruption.”

“Interviews with more than a dozen experts across a variety of industries suggested that the effects are beginning to take hold and could intensify.”