After the collapse of Silicon Valley and Signature banks and the subsequent regional bank crisis in the US, European banks are now rattling the global markets. Credit Suisse stock has hit an all time low, and global investors fear that banking contagion is spreading. Stateside, CNBC’s Eamon Javers reports, the Department of Justice and the SEC are investigating the SVB failure. Allianz and Gramercy advisor and president of Queens’ College Mohamed El-Erian unpacks the Fed’s long term policies that have led us here, the real picture of financial stability, and the rocky road ahead. Also digesting the banking contagion: the CEO of BlackRock Larry Fink is warning investors that more bank seizures could be coming and that inflation’s going to stay high. Plus, ChatGPT has reported its latest model has exhibited ‘human level’ performance on standardized testing like the bar exam and the SAT. In this episode:Eamon Javers, @EamonJaversMohamed El-Erian, @elerianmAndrew Ross Sorkin, @andrewrsorkinMelissa Lee, @MelissaLeeCNBCKlaire Odumody, @klairemarie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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