The Federal Reserve’s next rate hike is around the corner–or is it? The latest inflation report, last month’s Consumer Price Index, came in hot but not worse than expected. CNBC’s Steve Liesman considers whether it’s a stable enough report to merit a pause on the Fed’s rate hiking spree. Another concern for the Fed: instability in the financial system. Markets and regulators are digesting the second- and third-largest bank failures in U.S. history, and former CEO of Bridgewater Dave McCormick is asking whether the government’s Silicon Valley Bank depositor rescue set the correct economic precedent. In a wide-ranging interview, McCormick compares 2023’s bank backstops to the 2008 financial crisis and discusses the rest of the challenges facing the American economy. Plus, Delta CEO Ed Bastian says, air travel demand is strong, despite safety concerns and sky high ticket prices. In this episode: Ed Bastian, @Delta Dave McCormick, @DaveMcCormickPA Phil Lebeau, @Lebeaucarnews Steve Liesman, @steveliesman Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie