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International Business Times
International Business Times
Business
Julie CHABANAS

US Embrace Of Remote Working Empties Offices, Weighs On Banks

US Federal Reserve Chair Jerome Powell said recently that downtown office districts in many cities are 'very underpopulated' (Credit: AFP)

The popularity of remote work in the United States has emptied office buildings, a cause for worry as their value falls and owners risk losses on property loans -- in turn putting pressure on smaller banks.

"There will be bank failures, but this is not the big banks," said US Federal Reserve Chair Jerome Powell on Thursday.

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