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9/25, 6:46 PM (Source: TeleTrader)
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Fed's George: Banks could still face problems

Banks in the United States could still face problems linked to the coronavirus economic crisis, Federal Reserve Bank of Kansas Esther George said on Friday. George pointed out that the strain could come from troubles households and businesses are facing.

The central banker, who is a non-voting member of the Federal Open Market Committee (FOMC) this year, added that banks' core markets are facing stress, especially commercial real estate.

George stressed that the economic recovery in the US is "far from complete" despite some positivity from other Fed members.

Breaking the News / VP