Closing Bell: Rescuing First Republic, What Will The Fed Do Next? 3/16/23

Scott Wapner breaks down the big break for First Republic. Eleven banks, including JPMorgan, Citigroup, Bank of America and Wells Fargo, deposite $30 billion in First Republic Bank. In a joint statement from the heads of the Treasury, Federal Reserve, FDIC and the office of the Comptroller of the Currency writing, “This show of support by a group of large banks is most welcome, and demonstrates the resilience of the banking system.” SoFi’s Head of Investment Strategy, Liz Young, weighing in on what it all means for the markets and your money. Plus, one of the top-rated financial advisors, Chris Toomey, on how he’s positioning his clients through the volatility. Why he’s saying now is the time to stay defensive. The tech trade heating up, Requisite Capital’s Bryn Talkington on where she’s putting her money to work.

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