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Larry Summers explains the banking crisis
Larry Summers explains the banking crisis | GZERO World

Larry Summers explains the banking crisis

On GZERO World, Ian Bremmer and former US Treasury Secretary Larry Summers discuss a range of topics, including the global banking system, the impact of AI on the labor market, and a controversial solution for rebuilding Ukraine.

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Is your money safe? Larry Summers on the banking crisis
Is your money safe? | Larry Summers on the banking crisis | GZERO World

Is your money safe? Larry Summers on the banking crisis

Banks, in many ways, are the backbone of the economy, but when Silicon Valley Bank and Signature Bank recently failed, it raised some tough questions about the stability and regulation of financial institutions. On GZERO World, Ian Bremmer and former US Treasury Secretary Larry Summers dive deep into the crisis and explore the complex factors that led to the banking turmoil.

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Ian Explains: Banking turmoil and the panic pandemic
Ian Explains: Banking turmoil and the panic pandemic | GZERO World

Ian Explains: Banking turmoil and the panic pandemic

There’s talk of another surge. We're talking, of course, about…banking.

Much of what’s driving today’s banking drama—resulting in the most significant government intervention since the Great Recession—is a virus more contagious than COVID-19: panic, Ian Bremmer explains on GZERO World.

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The banking crisis, AI & Ukraine: Larry Summers weighs in
The banking crisis, AI & Ukraine: Larry Summers weighs in | GZERO World with Ian Bremmer

The banking crisis, AI & Ukraine: Larry Summers weighs in

The recent spate of bank failures has caused significant turbulence in markets and left investors jittery across the globe, from Silicon Valley to Switzerland. But is this a sign of a systemic banking crisis or of a more fundamental flaw in capitalism? In an interview with Ian Bremmer on GZERO World, former US Treasury Secretary Larry Summers provides an in-depth analysis of the situation.

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A graph comparing the US Federal Funds Effective Interest Rate with the year-on-year percentage change in inflation.

Luisa Vieira

The Graphic Truth: US interest rates vs. inflation

All eyes are on the US Federal Reserve, as it is set to announce Wednesday whether it’ll raise interest rates amid the recent banking turbulence.

The Fed’s decision will hinge on what central bankers think is a bigger priority: fighting inflation or stabilizing the financial sector following the recent collapses of Silicon Valley Bank and Signature Bank.

While it could stay the course in its inflation fight with another rate hike, the Fed is coming under growing pressure to ease investors’ anxieties by leaving interest rates be. But doing that risks giving in — temporarily, at least — to lasting inflation. The longer the Fed waits to control rising prices, the worse chance it has to reach its 2-3% inflation target without triggering a recession.

Also, high-interest rates are partly to blame for the recent financial turmoil on both sides of the Atlantic. Right-leaning critics argue that near-zero rates for too long made lending too cheap. Meanwhile, some on the left say that raising rates too quickly made borrowing too expensive, hurting the balance sheets of banks like SVB.

What do you think the Fed’s next move should be? Let us know here.

Silicon Valley Bank collapse: Not 2008 all over again
Silicon Valley Bank collapse isn't the same as 2008 financial crisis | World In :60 | GZERO Media

Silicon Valley Bank collapse: Not 2008 all over again

Ian Bremmer shares his insights on global politics this week on World In :60.

With the Silicon Valley Bank collapse, is it 2008 all over again?

There's one very clear way that it's not, which is that it's not a big enough crisis for people to come together. And remember, after 2008, everyone understood that we needed to do everything possible to get the markets functioning, get trust in the system again, and avoid a great depression. Nobody's saying that right now. And it's not just because the US political system is more divided, it's also because people feel like it's fine to go after the "woke" banks. It's fine to go after the Trump era deregulation around the medium size banks. And everyone can point at their favorite villain while you don't really need to do a hell of a lot beyond the bazooka that Secretary Yellen threw at SVB and Signature Bank this weekend. So no, in that regard, it's very much not 2008 all over again. In some ways I'm happy about that and other ways I'm not.

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