Time for a Time Out? Former Fed Governor Kevin Warsh 03/21/23

JPMorgan is advising First Republic on strategic alternatives, after JPM and 10 other banks announced a $30B deposit into the embattled bank. Treasury Secretary Janet Yellen lauded the move, but told lawmakers that the government would not refund all uninsured deposits for every bank that fails. The Federal Reserve begins a critical two-day policy meeting; former Fed Governor Kevin Warsh discusses the central bank’s options to hike, pause, or pivot, and he argues that a time-out is in order. High profile tweeters like Elon Musk and Bill Ackman are also weighing in. Plus, sports merchandising, betting, and collectibles company Fanatics has scored a new deal with the National Hockey League. NHL Commissioner Gary Bettman joins Fanatics CEO Michael Rubin to discuss the outfitting deal and the future of live sports. Spoiler: sports streaming isn’t off the table for Fanatics–at least in the long term.  In this episode:Michael Rubin, @michaelrubinJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.