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Recession Risk Is Growing With Rate Hikes, Regional U.S. Banks Say

  • Fifth Third chief says economy could shrink starting in 2023
  • KeyCorp, PNC bullish on loan growth as Fed boosts rates
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Powell: Half-Point Fed Rate Hike on the Table for May

The heads of some of the largest U.S. regional banks see mounting risks for a recession brought on by the Federal Reserve’s interest-rate hikes, even as those increases are set to bolster lending revenue. 

Fed policy makers are struggling to contain consumer prices that surged 8.5% from a year earlier in March, with Chair Jerome Powell saying a half-point interest-rate hike “will be on the table” in May.