Yellen pledges to protect bank deposits and prevent contagion.
TL;DR
Treasury Secretary Janet Yellen expressed confidence in the US banking system but said she was prepared to take additional action to safeguard smaller financial institutions as the Biden administration and federal regulators worked to contain fallout from fears over the stability of the banking system. Yellen said the steps the administration and federal regulators had taken so far had helped restore confidence, but policymakers were focused on making sure that the broader banking system remained secure.
Topics:businessfinance#bank-runs#biden-administration#finance#financial-stability#janet-yellen#us-banking-system
- U.S. Is Ready to Protect Smaller Banks if Necessary, Yellen Says The New York Times
- Treasury Secretary Yellen says the government could backstop more deposits if necessary to stop contagion CNBC
- Yellen vows to safeguard U.S. bank deposits, may need more interventions Yahoo Finance
- LIVE: Treasury Secretary Yellen speaks on the economy and health of the banking system — 3/21/23 CNBC Television
- Yellen: Our actions show resolute commitment to ensure depositors' savings ForexLive
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