Fed's Bullard: Credit tightening won't cause recession, financial stress low.

St. Louis Federal Reserve President James Bullard has dismissed concerns of a credit crunch in reaction to the turmoil in the financial system following the collapse of Silicon Valley Bank and other institutions in recent weeks. Bullard said he does not expect lending standards to rise to a level that would push the economy into a recession. Some economists have expressed concern that the series of high-profile bank failures in recent weeks could severely tighten credit for U.S. households and businesses, taking a toll on economic growth.