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No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
mystery-ak:
No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
Simon Kent 16 Mar 2023
The U.S. banking system “remains sound” and Americans can feel “confident” about their deposits with no need to panic over recent events, Treasury Secretary Janet Yellen is set to tell the Senate Finance Committee on Thursday.
Her testimony will come a week after the second-largest bank collapse in U.S. history.
AP reports Yellen will be the first Biden administration official to face lawmakers over the decision to protect uninsured money at two failed regional banks, a move critics labelled as a bank “bailout.”
“The government took decisive and forceful actions to strengthen public confidence” in the U.S. banking system, Yellen says in prepared testimony released before her appearance.
“I can reassure the members of the Committee that our banking system remains sound, and that Americans can feel confident that their deposits will be there when they need them.”
She made no reference in the prepared remarks to the situation surrounding Credit Suisse, which saw its shares plunge on Wednesday before regulators pledged a liquidity lifeline to the flagship Swiss lender, as Breitbart News reported.
more
https://www.breitbart.com/economy/2023/03/16/no-cause-for-alarm-janet-yellen-to-reassure-congress-u-s-banking-system-remains-sound/
mystery-ak:
okie dokey..... :thumbsup:
Free Vulcan:
If the sound is like a cat being strangled, then I'd say she's right.
libertybele:
9999hair out0000 888mouth
Free Vulcan:
--- Quote from: libertybele on March 16, 2023, 11:01:31 am --- 9999hair out0000 888mouth
--- End quote ---
@libertybele
So you back?
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