The strong dollar and the very bad Austrian bank
This past week, the Federal Reserve published its much-anticipated annual stress test, detailing which big banks could sustain themselves if and when another global financial crisis occurs. Now, while no US bank outright failed the test, some of the biggest names on Wall Street struggled to pass and the US units of two foreign banks failed. Erin weighs in.
Then, Edward Harrison is joined by Axel Merk – president and CIO of Merk Investments. Axel gives us his take on Fitch Ratings downgrading Austria to an AA+ rating and tells us where the situation in Greece is headed.
After the break, Boom Bust producer Bianca Facchinei takes a look at how obesity has affected the national and global economy, from rising healthcare costs to more expensive transportation. Afterwards is Defining Moments, including comments from Michael Hudson, David Beckworth, Lockhart Steele, Marin Katusa and more.
And in The Big Deal, Erin and Edward discuss the impact of the strong dollar on the economy, financial markets and the Fed’s desire to raise interest rates. Take a look!