Mark Carney: First Republic Bank Fails; Will Interest Rates Rise? Global Warming's Net Zero | E1008

ℹ️ EPISODE INFO

Released

May 1, 2023

Duration

55m

Channel

The Twenty Minute VC

Watch on YouTube

▶ Open ↗

📝 EPISODE DESCRIPTION

Mark Carney is the Vice Chair and Head of Transition Investing @ Brookfield Asset Management, one of the world’s leading asset managers with over $800BN in AUM. Mark is also United Nations Special Envoy on Climate Action and Finance. He has also served as Finance Advisor to the British Prime Minister. In addition to this, Mark is on the board of Stripe, PIMCO and The World Economic Forum. In a previous life, Mark spent over a decade as a Central Banker, most recently as Governor of The Bank of England and before that as Governor of The Bank of Canada. ------------------------------- Timestamps: (0:00) Introducing Mark Carney (3:09) Current Health of Our Financial System (7:33) Is the banking crisis over? (10:31) Should The Fed guarantee all deposits? (17:53) The Future of Regional Banks (23:00) First Republic Bank: Who’s to blame? (25:25) Will interest rates go higher? (29:19) Mark Carney as Head of The Fed (34:11) Net Zero Emissions: Status Update (39:11) USA vs China on Fighting Global Warming (43:18) Which companies and countries act more than they talk? (44:45) Which talk more than they act? (50:11) Quick-Fire Round ------------------------------- In Today’s Episode with Mark Carney We Discuss:

1. Is The Banking Crisis Over? What Happened? Why does Mark not believe we are in a banking crisis? Why does he not believe the banking turmoil is over? Was SVB the fault of regulatory mistakes or management mistakes? Is FRB a damaged asset in it’s own right or the result of contagion within the banking ecosystem?

1. The Impact of the Banking Turmoil: What Happens Now? What does Mark believe is the future of regional banks? Why does Mark believe we will see massive consolidation in banks coming soon? Should the Fed be guaranteeing all deposits automatically?

1. What Happens To The Macro Now? How does the banking turmoil impact growth rates? Will we definitely go into a recession now? What is the impact on monetary policy? Can the Fed raise rates even higher? What does this mean for the future of money? Why is it a silver bullet for stablecoins? If Mark could bet on China or the US for the next 10 years, who would it be? Does Mark believe the UK is in a weaker situation than ever? What about Europe?

1. The Future of Climate and Net Zero: Where are we at with Net Zero? Are we ever going to make progress? Is it possible to make progress without the cooperation of China? Why does Mark disagree and suggest China has done more than most to help the climate? Who is talking more than they are acting in the fight to save the climate? On the flip side, who is acting more than they are talking? ------------------------------- Subscribe on Spotify: https://open.spotify.com/show/3j2KMcZTtgTNBKwtZBMHvl?si=85bc9196860e4466 Subscribe on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-twenty-minute-vc-20vc-venture-capital-startup/id958230465 Follow Harry Stebbings on Twitter: https://twitter.com/HarryStebbings Follow Mark Carney on Twitter: https://twitter.com/markjcarney Follow 20VC on Instagram: https://www.instagram.com/20vc_reels Follow 20VC on TikTok: https://www.tiktok.com/@20vc_tok Visit our Website: https://www.20vc.com Subscribe to our Newsletter: https://www.thetwentyminutevc.com/contact ------------------------------- #MarkCarney #Brookfield #HarryStebbings

🎤 SPEAKERS

• Mark Carney

  guest

• Harry Stebbings

  host

🧾 EPISODE SUMMARY

In this episode of The Twenty Minute VC, featuring Mark Carney and Harry Stebbings, Mark Carney: First Republic Bank Fails; Will Interest Rates Rise? Global Warming's Net Zero | E1008 explores mark Carney Dissects Bank Turmoil, Interest Rates, And Net Zero Transition Mark Carney explains the recent banking turmoil around regional US banks like Silicon Valley Bank and First Republic, arguing it’s serious but fundamentally different from the 2008 crisis due to far stronger capital, liquidity, and resolution regimes.

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