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How the fallout from Silicon Valley Bank may be felt in Arizona
The collapse of Silicon Valley Bank has sent shockwaves through the banking industry — and the broader economy.
There are questions about what it’ll mean for the bank’s facility in Tempe, as well as for other banks in Arizona and elsewhere. Phoenix-based Western Alliance Bank, for example, saw a drop in its stock price earlier this week before rebounding a bit.
Dennis Hoffman, a longtime economics professor at Arizona State University, joined The Show to talk about the fallout and what kinds of impacts might the state be feeling and continue to feel from them.