Treasury Secretary Janet Yellen tells Congress the U.S. banking system 'remains sound' after two bank failures stirred economic fears.
1:26
"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 said. "This week's actions demonstrate our resolute commitment to ensure that depositors' savings remain safe.
That included guaranteeing the protection of all Silicon Valley Bank and Signature Bank deposits, which many Republicans have slammed as a prioritization of the rich.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Yellen to tell Congress US banking system 'remains sound'Treasury Secretary Janet Yellen says the U.S. banking system remains sound
Read more »
Yellen to tell Congress US banking system 'remains sound'A week after the second-largest bank collapse in U.S. history, Treasury Secretary Janet Yellen is set to tell the Senate Finance Committee that the nation's banking system “remains sound” and Americans can feel “confident” about their deposits.
Read more »
WATCH LIVE: Treasury Secretary Yellen to testify in front of finance committeeTreasury Secretary Janet Yellen is set to testify in front of the Senate Finance Committee on the president's 2024 budget.
Read more »
Janet Yellen testifies in Congress with banks, markets under stressFollow along as MarketWatch provides live updates on congressional testimony from Treasury Secretary Janet Yellen. Yellen is appearing Thursday before the Senate Finance Committee, where the topic is President Joe Biden's 2024 budget proposal. But she's certain to be asked about the turmoil in banks and markets following the collapse of Silicon Valley Bank.
Read more »
Janet Yellen testifies in Congress with banks, markets under stressFollow along as MarketWatch provides live updates on congressional testimony from Treasury Secretary Janet Yellen. Yellen is appearing Thursday before the Senate Finance Committee, where the topic is President Joe Biden's 2024 budget proposal. But she's certain to be asked about the turmoil in banks and markets following the collapse of Silicon Valley Bank.
Read more »
Janet Yellen testifies in Congress with banks, markets under stressFollow along as MarketWatch provides live updates on congressional testimony from Treasury Secretary Janet Yellen. Yellen is appearing Thursday before the Senate Finance Committee, where the topic is President Joe Biden's 2024 budget proposal. But she's certain to be asked about the turmoil in banks and markets following the collapse of Silicon Valley Bank.
Read more »