Tempted to open a new credit card? It might get more difficult. Powell warns of ‘tighter credit conditions for households and businesses’
Federal Reserve Chair Jerome Powell this week lent some credence to predictions that banks will start tightening credit standards. On Wednesday, Powell called the country’s banking sector “sound and resilient.”But he added a cautionary note: “Events in the banking system over the past two weeks are likely to result in tighter credit conditions for households…