First Quarter 2023 – Recession Still Likely
Submitted by Alsworth Capital Management, LLC on May 15th, 2023
The failure of Silicon Valley Bank (SVB) was the dominant story during the last quarter. Several other relatively small banks showed signs of distress, which shook markets. The Federal Reserve (Fed) stepped up and injected significant amounts of cash into the banking system to help counter any “run on the bank” contagion. It was a successful maneuver.