two banks. both with deep ties to the tech industry. the collapse of fat silicon valley bank in the bay area and signature bank here in new york shook customers and investors alike. the question was, and really still as, what it also threaten the broader market in the banking system so so far, the answer appears to be no. markets largely held steady, closing the day mix shares in regional banks amongst the ones that failed to take a beating. joining shortly, lawrence summer, who actually predicted the current high insulation to walk us through the coming days and weeks and what he thinks about the federal response so far. including this promise from the president. every american should feel confident that their deposits will be there, if and when they need them. in addition to secretary summers, we have cnn s kristen romans and phil mattingly on this for us tonight. christine, on your money, and fill, on the white house response and what comes next. we begin with christin
requirements. i have to go to some place happy. i had to go to a low crime area because there is nothing worse than getting carjacked in a golf cart at 6:00. i had to go to a place where there is pleasant weather. and that is why, ladies, welcome to the villages friendliest hometown. steve: how much fun is this. yesterday i got messages from all of my friends who said steve, you know what? you said you are going to go somewhere in america and make breakfast for somebody so my friends could call and say hey, i will make sure that our kitchen is clean. and so when i was coming up yesterday, a bunch of people said hey, steve, my kitchen is clean. there are 145,000 people who live in the villages. and we might stop by any one of their houses exactly two hours from now. [applause] and you guys are not off the hook. we might go to your house. we might put you in the golf cart and say let s go to their house. and then i m going to make them breakfast from our brand new simply ha
banks ceos as well trying to ensure that they are having the desired effect. while christine pointed out, those regional banks are getting hammered in the equity markets behind the scenes i m told that we are seeing some positive signs as it relates to deposits. obviously depositors, and the risks that they face, or a critical concern here. mostly on the rationale with panic. they were concerned that there would be significant and dramatic deposit or outflows from some of these banks. they have seen those outflow start to slow. which they view as a positive signal. the other key element here is access to credit, ensuring that these banks can stay liquid, even if they are getting hit by the market. long enough to maintain some level of durability and sustainability going forward. they ve seen some of that is well, tied to the federal reserve s credit lending facility. some positive signs going forward on that front. the other, obviously as messaging. the president making very clear that
straight time the feds feds have raised the interest rate making it harder to sell a house. why would you if you are paying 3% or 2.6 is what it was when donald trump left office. 2.6 on 30 year income. why would you sign your house and now sign up to pay 6% if not higher? brian: we want to get experts, not politicians to tell us where this economy is going. we understand with another fed hike it s going to start affecting jobs. the president keeps saying unemployment is low. and we love that. that s all going to change that housing sales were going fine that all has changed. here are banks ceos who won house committee yesterday especially when it comes to congresscongress jay a pal. let s listen. not a big chance but a chance of soft landing. inflation is effecting those who can afford it the least. i would suggest inflation is going to be a little bit stickier than we would like. i think we are fortunate to have had the consumer in good health entering into this but we