Fed's Bullard: U.K. Needs Glide Path on Trade Arrangement

The video discusses the impact of Brexit on UK and US banks, highlighting systemic risks and the uncertainty surrounding passporting rights. It explains the modern concept of the lender of last resort, emphasizing market functioning during crises. The discussion shifts to the bond market, addressing low yields and the potential for future interest rate increases, urging investors to be prepared for changes in economic conditions.

What are the potential impacts of Brexit on UK banks according to the text?

How does the speaker describe the current state of banks compared to a few years ago?

What is the role of the lender of last resort as explained in the text?

What concerns do critics have regarding the bond market as mentioned in the text?

What does the speaker suggest investors should be prepared for in the future?