Credit was tightened in the past three months, according to the Federal Reserve’s senior loan officer survey, which found respondents tightened standards for mortgages, credit cards, and consumer loans, while demand for consumer loans weakened.

“In the April survey, the net percentages of respondents that reported having tightened their business lending policies over the previous three months, although continuing to be very elevated, edged down for the second consecutive survey,” the Fed said. “In contrast, somewhat larger net percentages of domestic banks than in the January survey reported having tightened credit standards on residential mortgages.

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