Yellen's Comments on Deposit Insurance Cause Stock Market Decline
TL;DR Summary
The Dow Jones Industrial Average fell over 500 points after remarks by Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen. Yellen's statement that the Treasury is not looking at expanding deposit insurance overshadowed Powell's comments on the economy and interest rates.
- Did Yellen upstage Powell? Stock-market declines after Treasury secretary says not looking at expanding deposit insurance MarketWatch
- Yellen: FDIC not considering 'blanket insurance' for bank deposits Yahoo Finance
- Treasury will do whatever it takes to ensure 'savings remain safe,' Yellen tells senators CNBC
- Concerns growing over more bank failures ABC News
- Stocks Roiled by Fed Day’s Nerve-Wracking Rhetoric: Markets Wrap Yahoo Canada Finance
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