US Federal Reserve will be mindful of the banking turmoil of March as it meets this week

The regional banking crisis that occurred earlier this year continues to have a lasting impact on the regional banking industry and the economy. The crisis caused a tightening of credit conditions. As a result, credit availability has tightened and loan spreads have widened. Torsten Slok, chief economist at Apollo Global Management, said the banking crisis had "a magnifying effect" on the Fed's tightening but its full impact would come with a lag.

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