Ep 1715: Failed American banks could threaten the world’s financial stability

Economist, commentator and podcaster Chris Johns talks to Eamon about the trouble in America's regional banks with the recent collapses of First Republic, Silicon Valley and Signature Banks. Also US Treasury Secretary Janet Yellen has warned that the US may run out of cash by 1st June if Congress fails to raise or suspend the debt ceiling. Chris outlines the background to the US debt ceiling and what failure to agree could look like should Congress not reach an agreement.Recorded on 2nd May 2023. Hosted on Acast. See acast.com/privacy for more information.