Wall Street banks JPMorgan Chase & Co , Citigroup and Wells Fargo said on Wednesday they had raised their prime lending rates by 75 basis points to 5.5%, effective Thursday.
said on Wednesday they had raised their prime lending rates by 75 basis points to 5.5%, effective Thursday.
"If the U.S. enters a recession now, it would be a most unusual one with plentiful credit, low unemployment and high inflation - remarkable dynamics not normally associated with an economic slowdown," Schulman added.
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