Tightening credit confirms likelihood of US recession

 Credit is the lifeblood of economic activity.  But it normally takes a while to affect the economy.

In the US economy, banks have been tightening credit for months now.  Inevitably, that affects economic activity.  And there is no sign that banks have started t loosen credit.  The economy might have a little bump, but tightening credit will inevitably lead to recession. Especially if it continues to tighten.