It's Time to get Frank, Banks and Boing Boing

<p>Released Federal Reserve documents seem to indicate that fallout from the U.S. banking crisis is likely to tilt the economy into recession later this year. Minutes from the March meeting of the Federal Open Market Committee (FOMC) included a presentation from staff members on potential repercussions from the failure of Silicon Valley Bank and other tumult in the financial sector that began in early March.</p><p>In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole.</p><p><br></p><p>They discuss a report from the Labor Department indicating that US producer prices unexpectedly fell in March as the cost of gasoline declined, along with signs that underlying producer inflation was subsiding.</p><p><br></p><p>Chris and Saied look at analyst's estimates, suggesting that deposits at JPMorgan Chase, Wells Fargo and Bank of America will tumble $521 billion from a year earlier, the biggest drop in a decade.</p><p><br></p><p>They also offer some thoughts on criminal fraud charges brought by the Department of Justice against Charlie Javice, founder and former CEO of Frank, a startup college financial planning company for students, in which they allege that she "engaged in a brazen scheme" when she sold her company to JPMorgan Chase in 2021.</p><p><br></p><p>Join Chris and Saied for this fascinating and informative conversation.</p><p><br></p><p>Enjoy!</p><p><br></p><p><br></p><p><strong>What You’ll Learn in this Show:</strong></p><ul><li>The statistics that can be found behind the CPI report.</li><li>The two main problems with the shelter component of the CPI report.</li><li>Why the Fed expects a banking crisis to cause a recession this year.</li><li>The ins and outs of the Charlie Javice fraud case.</li><li>And so much more...</li></ul><br/><p><br></p><p><strong>Resources:</strong></p><p><a href="https://www.reuters.com/markets/us/us-consumer-prices-rise-moderately-march-underlying-inflation-still-hot-2023-04-12/" rel="noopener noreferre