How does SVB collapsing lead to recession?

Chuck Zodda and Mike Armstrong discuss how bank failures, like earlier shocks, raise the odds of a recession. Janet Yellen infuriates many with her comments that the banking system is healthy even after the collapse of SVB. Chuck and Mike dive into the list of things the FDIC covers. A developer in Peadbody, Ma proposed a housing plan, but the city said no and bought the land themselves. National Grid outlined plans for summer electric rate cut.