Yellen's Comments Shake Bank Stocks Amidst Fed Rate Hike Uncertainty.

TL;DR Summary
CNBC's Jim Cramer said that the Federal Reserve's quarter-percent rate hike was not the reason the market tumbled on Wednesday, rather, it was the "tone-deaf" words of Treasury Secretary Janet Yellen. Yellen's remarks that the government was not going to bail out shareholders, bondholders, or depositors in the banks that recently failed sent waves of fear through the market. Despite this, Cramer explained that the Fed's moves should not have been anything to worry about and were logical and reasonable.
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- 'Blanket insurance' of bank deposits is not being discussed, Yellen tells senators CNBC
- Did Yellen upstage Powell? Stock-market declines after Treasury secretary says not looking at expanding deposit insurance MarketWatch
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