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[Music] on the spot with Michelle McCory is brought to you by Prime xbt the U.S economy is slowing down faster than expected GDP or gross domestic product Rose at a 1.1 annualized Pace in the first quarter economists had been forecasting a growth of two percent meanwhile major issues at First Republic Bank are reigniting worries about the banking sector the Regional Bank revealed that its deposits dropped 41 to 104.5 billion dollars in the first quarter and thats even after a Consortium of banks stepped in with 30 billion dollars to prevent the bank from failing shares have plunged around 94 year-to-date and an economic catastrophe is what U.S treasury secretary Janet Yellen is warning will happen if Congress fails to raise the governments debt ceiling on the upside the first crop of earnings are showing that companies from Tech to food are showing resilience Microsoft message Chipotle McDonalds some of the companies beating expectations so here to help us make sense of all of this
