Article Image

IPFS News Link • Economy - Economics USA

Powell warns commercial real estate woes will lead to bank failures:

• Fortune

The Fed chair told lawmakers on the Senate Banking Committee that the Fed is talking with lenders to make sure they are on top of potential losses.

Federal Reserve Chair Jerome Powell joined a chorus of US officials who have argued that mounting bad commercial real estate loans will likely cause some bank failures, but don't pose a risk to the overall system.