staff economists project that the recent banking crisis will trigger a recession in the US, according to newly released minutes.The notes from the Fed's March 21-22 meeting, released on Wednesday, show how the collapse of and Signature Bank of New York dominated the discussion. 'Given their assessment of the potential economic effects of the recent banking-sector developments, the staff's projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years,' the meeting summary said.
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