Fannie Mae: Banking System Instability May Prove Catalyst for Recession
March 25, 2023
March 25, 2023
WASHINGTON, March 25 -- Fannie Mae issued the following news release:
Due to stronger-than-expected economic data, Fannie Mae's Economic and Strategic Research (ESR) Group revised upward its first quarter 2023 GDP forecast, which it finalized prior to the recent financial turmoil, and now projects a modest recession to begin in the second half of 2023, compared to the previously forecasted second quarter of 2023. While uncertainty has risen following turbulence in the banking sector . . .
Due to stronger-than-expected economic data, Fannie Mae's Economic and Strategic Research (ESR) Group revised upward its first quarter 2023 GDP forecast, which it finalized prior to the recent financial turmoil, and now projects a modest recession to begin in the second half of 2023, compared to the previously forecasted second quarter of 2023. While uncertainty has risen following turbulence in the banking sector . . .