Tag: Janet Yellen
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Janet Yellen changed the mood – again
U.S. Treasury Secretary Janet Yellen testifies before a subcommittee on March 23, 2023 in Washington, DC. Alex Wang | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they need to know, wherever they […]
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Asian markets are largely down as investors weigh Yellen’s comments about banks
5 hours ago Finance Minister Yellen says emergency measures to support banks could be used again if necessary Treasury Secretary Janet Yellen said Thursday that federal emergency measures used to hold back clients of Silicon Valley Bank and Signature Bank could be used again if necessary. “We have used important tools to act quickly to […]
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Jerome Powell flipped the script
Federal Reserve Board Chairman Jerome Powell gives a press conference following a meeting of the Federal Open Market Committee at the Federal Reserve on March 22, 2023 in Washington, DC. Alex Wang | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily […]
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Yellen’s comments shocked the market, not the Fed’s rate hike
CNBC’s Jim Cramer said Wednesday that the market was distracted by Janet Yellen’s comments about bank failures instead of focusing on the stability reflected in the Fed’s rate hike. During the press conference of Fed Chairman Jerome Powell, Cramer said the market went haywire before falling in response to Yellen’s comments. CNBC’s Jim Cramer said […]
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Janet Yellen’s guarantee to banks has a catch
US Treasury Janet Yellen speaks at the American Bankers Association Washington Summit on March 21, 2023 in Washington, DC. Drew Anger | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they need to […]
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US lawmakers are examining the merits of a higher FDIC insurance limit on bank deposits
The headquarters of the Federal Deposit Insurance Corp. (FDIC) in Washington, DC, USA, on Monday, March 13, 2023. Al Drago | Bloomberg | Getty Images Four prominent U.S. banking lawmakers said Sunday they would consider whether a higher federal insurance limit on bank deposits was needed to stem a financial crisis characterized by the outflow […]
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Yellen declares that the banking system is fine, as new bailouts have ordered
WASHINGTON (AP) — Treasury Secretary Janet Yellen offered firm, optimistic reassurances to rattling bank depositors and investors Thursday, even as US financial institutions and European agencies ordered fresh bailouts after the second largest bank collapse in US history. Closely, sometimes aggressively questioned, Yellen told senators at a hearing at the Capitol that the U.S. banking […]
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Evercore warns that SVB outages will force the new market to bottom out
Evercore ISI compares the banking stress to another critical time on Wall Street: the year of the savings and credit crisis and the epic crash. “To think that you would see this kind of financial stress building up in the system 24 hours later [Fed] chairman Powell suggested he could go 50 [basis points] on […]
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Bill Ackman says the US did the right thing by protecting SVB depositors
Billionaire investor Bill Ackman said the US government’s intervention to protect depositors after the Silicon Valley Bank implosion is “not a bailout” and helps restore confidence in the banking system. In a tweet, the CEO of Pershing Square said the fallout from the SVB on Monday indicated the government was doing the “right thing”. But […]
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No ‘appetite’: Lawmakers agree to oppose potential Silicon Valley Bank bailout
In a rare show of consensus, congressional lawmakers from both parties said on Sunday they would oppose potential rescue options for Silicon Valley Bank, which collapsed Friday in the biggest bank failure since the 2008 financial crisis. Treasury Secretary Janet Yellen ruled out a bailout possibility for the bank’s owners and investors, and members of […]