The US banking crisis may spark a credit crunch and ignite a recession, elite strategist Liz Ann Sonders warns

• The US banking crisis could lead to a credit crunch and a recession, Liz Ann Sonders said.
• The veteran strategist warned fears of more bank runs could hit lending to consumers and businesses.
• The Fed may be too focused on inflation and not enough on financial stability, Sonders said.

The banking crisis could morph into a painful credit crunch that tips the US economy into recession, Liz Ann Sonders has warned.