Economist, commentator and podcaster Chris Johns talks to Eamon about the trouble in America's regional banks with the recent collapses of First Republic, Silicon Valley and Signature Banks. Also US Treasury Secretary Janet Yellen has warned that the US may run out of cash by 1st June if Congress fails to raise or suspend the debt ceiling. Chris outlines the background to the US debt ceiling and what failure to agree could look like should Congress not reach an agreement.
Chris Johns is the former Chief Economist of the Bank of Ireland and has previously worked in the UK Treasury and the National Institute of Economic & Social Research in London. He writes a column every Monday in the Irish Times.