Allianz, one of the world’s largest insurers, has warned that the U.S. economy is headed toward a crash landing.
Highlights
- Allianz, one of the world’s largest insurers, has warned that the U.S.
- economy is headed toward a crash landing.
- The insurance giant’s research and analysis division published a report last week stating that the US economy is “headed towards a. crash landing” The report said that the economic momentum to deteriorate during the second half of the year on the back of rapidly tightening credit conditions, exacerbated by the banking crisis.
- The Federal Reserve and the Treasury took steps to prevent a systemic crisis, including providing liquidity to the banking system, creating a new lending facility to provide short-term loans to banks, and insuring all deposits of both banks.
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