Lender confidence in the US economy’s performance over the next six months is waning due to concerns over the impacts of tariff uncertainty and the possibility of a recession. Meanwhile, lenders believe the Fed will cut interest rates during this same time period, while they also expect borrowers will move cautiously going forward. In the Phoenix Management “Lending Climate in America” survey for Q2 2025, the lenders queried identify which macroeconomic factor concerns them the most, and which actions their customers have planned in the next six to 12 months. The survey also reveals whether lenders’ financial institutions plan to tighten, relax, or maintain their loan structures; how much growth their customers expect through the rest of 2025; and which industries are likely to experience the most volatility in the upcoming six months.
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