Friends,

Welcome back to my Saturday coffee klatch with Heather Lofthouse (executive director of Inequality Media Civic Action, and my former student), where we talk about the lows and the absurdities of the week. So grab a cup and pull up a chair.

Today, we look at:

— What really happened to Silicon Valley and the other small and medium-sized banks that got bailed out.

— Whether this signals the beginning of a period of financial tumult and chaos on Wall Street, in the stock and bond markets, and for global banks.

— Whether the Fed is likely to raise interest rates next Wednesday.

— What all this means for the bankers and for average people.

What do you think?

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit robertreich.substack.com/subscribe