“An Earthquake In The Financial System Unlike Anything We’ve Seen”

“The Rise of A.I.”: Months ago, AI experts and prominent tech figures signed an open letter asking that all AI labs take a 6 month pause to ensure this technology is developing safely. The call to action was rejected by Big Tech however, and now “The Godfather of AI,” Geoffrey Hinton has left Google saying artificial intelligence poses a serious threat to humanity. Co-Founder of the Center for Humane Technology and former Google ethicist, Tristan Harris, has worked on artificial intelligence and has been outspoken about the negative impacts of social media in “The Social Dilemma” and now he is speaking about “The AI Dilemma.” He joins the podcast to explain the consequences of artificial intelligence developing without safety measures and the need for AI experts to help create meaningful regulation.

But first, the Federal Reserve is expected to make its tenth consecutive interest rate hike on Wednesday, increasing already high interest rates by another quarter of a point. This comes on the heels of First Republic Bank collapsing on Monday, and some of the assets were sold to JPMorgan Chase. This marks the third major bank to collapse in two months and is the second-largest bank failure in U.S. history. Fox News Contributor and Senior Writer for The Wall Street Journal, Jon Hilsenrath, joins the Rundown to discuss what caused this latest bank failure, what kind of secondary shocks to the banking system could spur from the aggressive Fed policy, and the potential consequences of the nation defaulting on its debt.

Plus, commentary from Competitive Enterprise Institute senior fellow specializing in environmental policy, Ben Lieberman.