Billionaire Barry Sternlicht says the banking system remains under pressure and the economy is headed for not just a hard landing, but a crash landing.
Tesla CEO Elon Musk criticized the Federal Reserve's rate hike, saying it will accentuate depositor flight which is a major headache for policymakers and the banking industry in the wake of the ongoing crisis.</
The SPDR S&P 500 (NYSE: SPY) is volatile Wednesday afternoon following the Federal Reserve's decision to raise rates another 0.25%, marking its ninth straight rate increase.
Wall Street leaders and U.S. authorities conducting talks on intervention at First Republic Bank (NYSE:FRC) are reportedly considering the possibility of government backing to encourage a deal.