'Big Short' investor Michael Burry predicted a cash crunch. A top JPMorgan banker says that painful problem is fueling a banking crisis
"They occurred because businesses and consumers are burning cash in a big way," he said."It's the higher price of everything, and it's the higher cost to finance everything."
Households — especially poorer ones — have"blown right through" their pandemic savings, leaving their deposit balances below pre-COVID levels, Michele noted.
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