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Banking crisis may lead to recession: Fannie Mae

Following recent banking closures, Fannie Mae predicts a recession will take place in the second half of 2023. Meanwhile, Americans continue dealing with an uncertain interest rate environment and high inflation.

Credit Suisse execs address UBS takeover

Credit Suisse Chairman Axel Lehmann and CEO Ulrich Korner on Tuesday addressed the Switzerland-based bank’s near-collapse and UBS’s planned takeover of it.