Special Edition: Bank Failures & High Inflation Explained
The NewsWorthy
Erica Mandy
4.7 • 1.3K Ratings
🗓️ 18 March 2023
⏱️ 18 minutes
🧾️ Download transcript
Summary
Today, we're focusing on two major money events impacting the economy and possibly your own bank account: The seemingly sudden failure of some U.S. banks, and stubbornly high inflation.
We'll get into inflation in the second half of this episode with the expert best known as the Inflation Guy. Michael Ashton is the managing principal of Enduring Investments and the host of the "Inflation Guy" podcast. We'll discuss what triggers inflation, why prices don't typically come back down after they go up, and so much more.
But first, the story getting all the headlines over the past week: major bank failures on a scale not seen since the Great Recession. We wanted to take more time to explain how this all happened and what can be learned from it. We're speaking with Justin Baer, a senior special writer at the Wall Street Journal who has been covering the collapse.
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Transcript
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| 0:00.0 | Today is Saturday, March 18th. |
| 0:02.1 | Today we are focusing on two major money events impacting |
| 0:05.1 | the economy and possibly your own bank account. |
| 0:08.4 | One, the seemingly set in failure of some US banks |
| 0:11.2 | and two, stubbornly high inflation. |
| 0:14.0 | We'll get into inflation in the second half of this episode |
| 0:16.4 | with the expert best known as the inflation guy. |
| 0:19.2 | But first, the story getting all the headlines |
| 0:21.0 | over the past week. |
| 0:22.1 | Major bank failures on a scale not seen |
| 0:24.4 | since the Great Recession. |
| 0:26.1 | The federal government quickly stepped in, |
| 0:27.7 | promising the failed bank's customers |
| 0:29.6 | will get access to all of their money, despite the collapse. |
| 0:32.5 | But we wanted to take a little more time |
| 0:34.4 | than we have on our weekday episodes |
| 0:36.2 | to explain more about how all of this happened. |
| 0:39.3 | And what can be learned from it? |
| 0:41.5 | Our guest expert is Justin Baer. |
| 0:43.3 | He's a senior special writer at the Wall Street Journal |
| 0:45.5 | who has been covering the collapse |
| 0:47.0 | and helps break it all down. |
... |
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