Yellen's Comments on Deposit Guarantee Cause Bank Shares to Slide
TL;DR
Bank shares fell after US Treasury Secretary Janet Yellen suggested that a blanket deposit guarantee was unnecessary, stating that the US has a strong financial regulatory system in place. Yellen's comments were made in response to a question about the potential for a digital dollar and its impact on financial stability. The market reacted negatively to her comments, with bank shares sliding.
Topics:top-newsfinance#bank-shares#deposit-guarantee#finance#financial-regulation#janet-yellen#market-reaction
- Bank shares slide as Janet Yellen plays down 'blanket' deposit guarantee Financial Times
- Yellen: FDIC not considering 'blanket insurance' for bank deposits Yahoo Finance
- Did Yellen upstage Powell? Stock-market declines after Treasury secretary says not looking at expanding deposit insurance MarketWatch
- Bank Stocks Slump, Even Though Powell Says Banking System Is Sound The Wall Street Journal
- Concerns growing over more bank failures ABC News
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