Americans are already feeling the effects of a credit crunch

• A Monday New York Fed survey found that Americans' feel like their access to credit is deteriorating. 
• Fed Chair Jerome Powell previously said the banking stress that started with Silicon Valley Bank could trigger a credit crunch.
• The survey also found that Americans' inflation expectations increased at the short-term and medium-term, but decreased in the long-term.

Fed Chief Jerome Powell warned in March that the financial tumult that started with Silicon Valley Bank could eventually lead to a credit crunch — but Americans already say they feel the squeeze.