Experts Warn of Lingering Bank Turmoil and Impending Crisis

Bill Ackman, Jeffrey Gundlach, Mohamed El-Erian, and other high-profile investors and analysts have renewed their warnings about the US banking sector, stating that the banking turmoil is far from over. The collapse of four lenders in the past two months has caused chaos in the sector, leading to concerns about the stability of America's mid-sized banks. The recent fall of First Republic Bank and its subsequent takeover by JPMorgan has further fueled concerns about the sector's stability. The experts have raised doubts about Federal Reserve chair Jerome Powell's suggestion that the worst of the banking turmoil is over.