Investors Warn of More Economic Pain to Come After First Republic Failure

Investors Warn of More Economic Pain to Come After First Republic Failure
A worker cleans windows at a First Republic Bank office in San Francisco, Calif., on May 1, 2023. Justin Sullivan/Getty Images
Bryan Jung
Updated:
0:00

Top investors at the annual Milken conference have warned of more economic pain to come after the collapse of First Republic Bank.

Attendees at the conference said that the third seizure of a U.S. regional bank by the Federal Deposit Insurance Corporation (FDIC) since March is threatening to constrain credit and accelerate the path toward a severe economic slowdown.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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