The Federal Reserve said today that financial conditions had weakened recently because of market turmoil abroad, meaning Europe. A new report suggests they’ve been worsening for some time and are now about as bad as they’ve been since late 2008, when the financial crisis was raging.
“Financial conditions appear to have worsened substantially in recent quarters based on our update of the broad index of US financial variables presented earlier this year at the US Monetary Policy Forum,” economists at Deutsche Bank said in a note to clients.
clipped from blogs.wsj.com
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