Economists warn that the recent collapse of the US bank “First Republic” is nothing but evidence of an approaching economic recession in the United States.
Experts say that the flight of capital from accounts in US banks will lead to a banking crisis in the US economy.
The economist, Alexander Nazarov, believes that the banking crisis in the United States will continue, and as an indication of that, he pointed to the decline in the shares of two American banks.
The expert said in a post on his channel on the “Telegram” application today: “PacWest Bankcorp’s stock fell by more than 50% after circulating reports that the administration was weighing “strategic options”, including selling. This was after the Federal Reserve raised the interest rate by 0.25. %, you can be sure that many banks will soon fail.”
Nazarov believes that the banking crisis in the United States will continue, and the decline in shares and bankruptcy of American banks will continue with it. Closure”.
Yesterday, US Federal Reserve Chairman Jerome Powell said, following the decision to raise the main interest rates, that it is not excluded that the United States will face a recession at a later time.
This article was originally published by RT.
