Fed Downplays Bank Crisis As Another Bank Teeters | Jim Bianco
Jim Bianco of Bianco Research joins Forward Guidance to break down the Federal Reserve\u2019s meeting on May 3rd, during which Fed Chair Powell noted that \u201cconditions in the banking sector have improved.\u201d Shortly thereafter, shares of PacWest Bank ($PACW) plummeted.\nBianco and Farley also explore whether this is the Fed\u2019s last hike in interest rates, and how the consequences of the looming debt ceiling will impact the banking system and markets.\nNote: this interview started to filmed at 3:30pm ET on May 3rd, almost immediately after Fed Chair Jay Powell\u2019s press conference, but BEFORE the crash in $PACW (over 50%), which occurred shortly after 4:30pm ET. Bianco and Farley\u2019s discussion of PacWest occurred before PacWest announced it was pursuing a strategic sale.\n__\nToday\u2019s show is brought to you by VanEck. Go to https://vaneck.com/ForwardGuidance\nto access VanEck's Income Investing Yield Monitor.\n__\nFollow @vaneck_us on Twitter, this episode's sponsor https://twitter.com/vaneck_us\nFollow Jim Bianco on Twitter https://twitter.com/biancoresearch\nFollow Jack Farley on Twitter https://twitter.com/JackFarley96\nFollow Forward Guidance on Twitter https://twitter.com/ForwardGuidance\nFollow Blockworks on Twitter https://twitter.com/Blockworks_\n__\nDisclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.