This is John Bachelor.

In conversation with my colleague Liz Peek of the Hill in Fox News, we looked upon the

question, is this a recession?

Are we in a recession now?

And Liz looked at the banks.

The banking crisis now means that not only small banks and regional banks, but big banks

are hesitating about loans, and they're looking at their books and saying which of these

loans are bad.

And especially in light of what we know is the commercial real estate, wobbly after

several years of pandemic and people not returning to their office buildings.

All of this adds up to the unknown as the Federal Reserve prepares, we're told to raise

rates again, raising rates in a crisis already upon us with regional banks wobbly.

Is Liz Peek?

Well, I think this is one of the data points.

The Fed is going to be looking at very hard.

And Janet Yellen has made it clear that she doesn't know what the impact of credit tightening

is going to be.

Nor does Jay Powell.

I would argue it's not just smaller banks that are all of a sudden slamming on the brakes

in terms of issuing new loans.

It's also the big banks.

I mean, I've heard rumors scuttle but that all the banks across the spectrum are looking

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