Even before the March stresses, banks were beginning to tighten credit given the Fed's interest-rate hikes, Mester told Yahoo Finance, and the Fed is doing surveys and engaging with bankers to assess how that develops. "That will be part of the discussion at the upcoming FOMC meeting, to really assess the magnitude of those effects, and what the expected duration of those effects will be, and that will influence how we think about the future path of monetary policy," she said. (Reporting by Ann Saphir Editing by Chris Reese)
April 20 (Reuters) - Cleveland Federal Reserve Bank
President Loretta Mester said on Thursday that U.S. central
bankers will be assessing at their next meeting the extent and
duration of credit tightening stemming from last month's failure
of two regional banks.
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