2.8% drop in lending is largest since 1984
Reduction, especially by large banks, seen as impediment to recovery
By Binyamin Appelbaum
Washington Post Staff Writer
Wednesday, November 25, 2009
Lending by U.S. banks plunged by 2.8 percent in the third quarter, the largest drop since at least 1984 and the fifth consecutive quarter in which banks have reduced lending, the Federal Deposit Insurance Corp. reported Tuesday.
Reduction, especially by large banks, seen as impediment to recovery
By Binyamin Appelbaum
Washington Post Staff Writer
Wednesday, November 25, 2009
Lending by U.S. banks plunged by 2.8 percent in the third quarter, the largest drop since at least 1984 and the fifth consecutive quarter in which banks have reduced lending, the Federal Deposit Insurance Corp. reported Tuesday.
Economy limping back to strength
'SLOW-MOTION RECOVERY'Fed: Return to normal may take 5 or 6 years
By Neil Irwin and Renae Merle
Washington Post Staff Writer
Wednesday, November 25, 2009
The unemployment rate will remain elevated for years to come, according to a forecast released Tuesday by the Federal Reserve that addresses for the first time economic conditions at the time of the next presidential election.
By Neil Irwin and Renae Merle
Washington Post Staff Writer
Wednesday, November 25, 2009
The unemployment rate will remain elevated for years to come, according to a forecast released Tuesday by the Federal Reserve that addresses for the first time economic conditions at the time of the next presidential election.
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