The US Federal Reserve’s staff has become much more apprehensive about the possibility of a US recession following the recent banking crisis. According to minutes from the Fed’s March meeting, released by ABC News, the staff now anticipates a mild recession later in 2020. This outlook is in stark contrast to public statements from the Fed’s Chairman Jerome Powell, who has previously stated the possibility of a recession was difficult to ascertain following the March meeting. The situation continues to be monitored by the Federal Reserve and a recession could be declared in the near future.