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WASHINGTON — The US Federal Reserve announced Monday it will publish results of its stress tests for the country’s largest banks on Thursday, aimed at seeing if they are fit to survive another massive recession.
The test results will cover 19 large bank holding companies, examining how they would fare if the country experienced a recession marked by a 50 percent drop in stock prices, a 21 percent fall in housing prices, and joblessness soaring to 13 percent — all the while being buffeted by an even worse recession in Europe.
The stress scenario “is not the Federal Reserve’s forecast for the economy,” the central bank cautioned.
But it “was designed to represent an outcome that, while unlikely, may occur if the US economy were to experience a deep recession at the same time that economic activity in other major economies contracted significantly.”
Originally posted by BeforeTheHangmansNoose
reply to post by xuenchen
My problem is i find it hard to believe any form of statistics or evidence the government brings forward, let alone federal reserve..
Originally posted by thehoneycomb
I wonder why they would do this so called stress test if they weren't expecting a second wave of recession to hit. Maybe there is more to this, like say the 100 year Federal Reserve Charter due next year.
This sounds to me that things might be looking up for the moment or we have three more years of bad economy or worse.