Federal Reserve governor Elizabeth Duke said Wednesday that fewer lenders are tightening standards and both credit demand and supply should increase.
Duke said uncertainties remain, as demonstrated by the impact of recent stock market declines on household net worth, according to prepared remarks for an Ohio Bankers Day speech in Columbus.
Duke said there is “no single step that can be taken to quickly unclog all lending markets” as the banking sector continues its slow recovery, adding that solutions will “take time to fully work.”
— Market News International
