Apollo Economist Warns AI Agents Could Trigger Massive Bank Runs

Apollo's chief economist warns that AI agents could trigger massive bank runs due to a significant imbalance between fintech yields and those paid by FDIC-insured banks. Agents might reallocate users' savings to higher-yielding fintech accounts, causing massive withdrawals from banks. The warning highlights the potential for an 'agentic bank run' as agentic technology advances.