In This Economy???20 Mar 2023

14. BANK RUNS EVERYWHERE BUT DON'T WORRY WE SHOULD ALL STAY CALM

Conner and Braden sit down with Jerome Powell to discuss his thoughts after the latest and upcoming Fed meetings. Surprisingly, he didn't want to talk for too long because he's having issues saving or drowning every bank he can find.

Here's what he said: "Bank runs can turn the economy into a scary free-for-all because they create a situation where individuals and businesses panic and rush to withdraw their money from a bank, causing a shortage of available funds. This can lead to a domino effect where other people also rush to withdraw their money, which can cause the bank to fail.

The failure of one bank can lead to a chain reaction of failures in other banks, as people lose confidence in the banking system and start withdrawing their money from other institutions. This can lead to a widespread collapse of the financial system, as banks are unable to meet the demand for withdrawals and are forced to close their doors.

When bank runs occur, people lose trust in the banking system, which can have a severe impact on the economy. Businesses may be unable to obtain the financing they need to operate, and individuals may be unable to access the money they need for daily expenses or to invest in their future.

Overall, bank runs can cause a significant amount of economic instability and uncertainty, leading to a free-for-all where everyone tries to protect their own interests, often at the expense of others."

Disclaimer: All opinions from the hosts do not reflect investment advice or recommendations of any kind. This is not financial advice.

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