Recent research indicates banks have put the brakes on lending to small to midsize companies.

Congratulations to ChildFund International, Exelon Corp. and Constellation Energy, and Starwood Capital Group!

The IMF trimmed its global-growth projections, warning of high uncertainty and risks as financial-sector stress adds to pressures emanating from tighter monetary policy.

"In light of the heightened uncertainty and the emphasis on 'flexibility,' the March [FOMC] minutes offer very little guidance on the policy outlook going forward."

The pullback in total lending in the last half of March was broad and impacted real estate, commercial, and industrial loans.

Lending conditions were already tightening before the banking crisis in March, and economists anticipate that access to credit will get even more difficult for businesses and households.

"To bridge pay gaps in the workplace, employers must proactively build pay equity and increase transparency within their organization."

The 25 bps rate increase is a gamble that the banking crisis can be contained.