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There's no clear sign of a credit crunch in the US yet, the president of the New York Federal Reserve has said — even as his own bank's survey found Americans are already feeling the squeeze.
"You've seen that in the past, where credit conditions may tighten somewhat," John Williams said about the fallout from financial sector stress,"We don't really know whether this will happen this time. We haven't seen any clear signs yet of credit conditions tightening and we don't know how big those effects will be," he added at a New York University event Monday.
Credit crunch fears kicked off after Silicon Valley Bank and Signature Bank collapsed in March. The bank failures prompted worries that smaller and regional US banks could come under pressure.
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