number one for the typical american family. tonight, issue number one for the typical american family, if you look at google search trends, is my money safe? should i move my money? a lot has changed in the past week. talk to us, secretary summers, about the inflation fight and how that should still be in the forefront of what the fed is trying to do, in your view. look, americans money is safe. americans money will be safe if they don t raise rates at all americans money will be safe if they do raise rates by 25 basis points, because the government has indicated that it is standing behind bank deposits. and as that message is repeated and becomes clear, as people see that those who have deposited money, even in the banks that failed and even in the people who were not insured
i think that s the only thing. but them in the drier. jargon. what we saw was the swiss national bank coming out in giving a whole load of money to credits with, i think we can argue that s probably i think will help sentiment and actually it s a case of wait and see, i think. it literally is hour by hour, day-by-day. i think if you can see the deposit movements forcing settle down, some of the fears come out of this, people recognize that, look, we re gonna start getting the data tomorrow, even, if the window, the federal reserve lending window we start to see banks using that. i think things will settle down, and i think that s the important point. for now. i mean, all bets are off. we ve got 9:51 pm. yeah. a lot can happen between now and anything can happen between that in the. yeah, i think it s early
there s a fear factor here that i think is interesting. julian on we re talking about it yesterday. it s about fundamentals stability in the banking sector, today was about fear. reminding us that we have banks that are at a higher interest rate environment, and some banks that have mismanagement problems that have other problems as well. it just spooky. we have a lot ahead. we are gonna they ll be no breaks. we re gonna keep talking. we re gonna talk about you still have to fund these programs. let s get a quick break in here, and we ll talk about the fear of what s ahead for the markets tomorrow. everyone, stay with us. remember, the bank run in the movie it s a wonder life people look at how contagion actually works. plus, more insight on all this from former treasury secretary larry summers. does he think the government has handled things well so far? what does he think the fed should do next week? he s with us.
candidly, i feel like i felt that at the beginning, i could really see the business and what we can do to get through it. and i felt like there was a lot of challenges. we had to manage our product and we had to operate the business and fundamentally, those funds were the lifeline of the business. so, it was very challenging. a number of start-up founders that i talked to in the last six days have told me, the deal was, if you want to get a line of credit from svb, you had to hold all your cash there. so, all their money was tied up. is that the experience you had? i don t know if you had a line of credit from them. we did not. but i have seen that that can be true in some of the details that i ve heard of. but i don t know if that was true across the board. so how did you tell your nine employees i don t know if i can make payroll? luckily, i did not do that. because i was very committed to ensuring that we were going to take care of our team. even if you couldn t access t