The standard of living will fall down.
The Financial institutions that engage in activities such as investing, currency exchange, and money deposits. Commercial banks, investment banks, brokerage businesses, insurance companies, and asset management funds are common examples.
Americans had faith in the banks and the economy, which appeared to be stable. It would be hard for enterprises to acquire financing if consumers lost trust in the safety of financial institutions . As a result, capital investment would stall, unemployment would rise, output of goods and services would fall, and the overall quality of life would deteriorate.
Therefore, the answer is fall in standard of living.
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