Economy Stumbled After Banking Crisis

“The U.S. economy wobbled in the weeks following the collapse of Silicon Valley Bank, as consumers spent less, factories slowed their assembly lines and the nation’s bankers grew more cautious in making loans,” the Washington Post reports.

“If those trends continue, the recession that many analysts have predicted for much of the past year will finally arrive in the coming months.”

“But throughout the recovery from the coronavirus pandemic, the $26 trillion U.S. economy has defied the odds, minting new jobs at a remarkable pace and avoiding the oft-predicted downturn. Like a prizefighter absorbing a punch, it may yet recover its balance and persevere.”