Lending conditions at U.S. banks are tight and likely to get tighter, according to a Federal Reserve survey released Monday. The Fed’s closely watched Senior Loan Officer Opinion Survey showed that while credit conditions got more strict, demand declined as well. Those results are important as economists who expect a recession believe that the most likely source will be from the banking system — which has had to respond to a series of 11 interest rate hikes as well as a momentary crisis in March when three mid-size institutions failed. “Regarding banks’ outlook for the second half of 2023, banks reported expecting to ... (full story)