Fitch says that banking system stress in the US will further tighten credit markets

We've been getting this take for well over a month, that credit conditions will (indeed now have) tighten(ed) due to the bank failures.

This, for example, from back in mid-March:

• ICYMI: Goldman Sachs cut US GDP forecast citing the banking crisis impact on credit growth

Anyway, Fitch (the ratings folks):

• Says US. Leveraged loan concern list grows as lending tightens
• Expects that stress in banking sector in US. will lead to further tightening of credit markets

Tighter credit is doing some of the Fed's inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term-fighting job, at the margin.