First Republic on Monday became the second largest bank to fail in U.S. history. Since March, we've seen three of the four biggest U.S. bank failures ever. So what’s wrong with our banking system?<ul>
<li>Plus, a warning on the debt ceiling.</li>
<li>And, why allergy seasons are getting worse, and how to cope.</li>
</ul>Guests: Axios' Felix Salmon and Arielle Dreher.Credits: Axios Today is produced by Niala Boodhoo, Alexandra Botti, Robin Linn, Fonda Mwangi and Ben O'Brien. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893.Go Deeper:<ul>
<li><a href="https://www.axios.com/2023/05/01/first-republic-banking-sector-troubles">The lingering banking problem</a></li>
<li><a href="https://www.axios.com/2023/05/01/jpmorgan-first-republic-jamie-dimon-bank-failure">JPMorgan Chase CEO: We're getting a "very clean bank"</a></li>
<li><a href="https://www.axios.com/2023/05/01/yellen-debt-limit-treasury-congress">U.S. may hit debt ceiling as early as June 1, Janet Yellen warns</a></li>
</ul> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

1 big thing

A shaky U.S. banking system

Axios podcast host Niala Boodhoo digs deep with leaders you know — or need to know — in business, politics and culture. Every week, all in under 20 minutes.About Axios: Axios is a digital media company launched in 2017. Axios helps you become smarter, faster with news and information across politics, tech, business, media, science and the world. Subscribe to our newsletters at axios.com/newsletters and download our mobile app at axios.com/app. About Niala Boodhoo: Niala Boodhoo is the host of 1 big thing and previously hosted Axios Today She was the founding Host and Executive Producer of the award-winning news progr...