Mohamed El-Erian, Bloomberg Opinion Columnist and Queens' Cambridge College President, says this was not a banking crisis, rather a "banking tremor." Ken Leon, CFRA Director of Equity Research, calls the banking system "resilient" as the financial sector reports results. Valdis Dombrovskis, European Commission Executive Vice President, says the EU is constructively engaged with the US on the Inflation Reduction Act. Lupin Rahman, Head of EM Sovereign Credit & Portfolio Manager, says the Fed cycle is extremely important for major emerging markets. Erik Nielsen, UniCredit Group Chief Economics Advisor, says economic policy is not in the drivers seat anymore. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance