A Dallas Fed survey of banks offers evidence that a feared 'credit crunch' is already under way, says Apollo Global chief economist Torsten Slok.
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A trio of bank collapses last month put some economists and investors on the alert for a full-fledged “credit crunch” — a sudden and sharp slowdown in lending —capable of pushing the U.S. economy into recession.
The squeeze is already being felt, according to Torsten Slok, chief economist at Apollo Global Management. He penned a Thursday note, titled, “The credit crunch has started.”
Slok…
