Yellen: US ready to resort to previously used tools to support banks
WASHINGTON, May 7 – RIA Novosti. US Treasury Secretary Janet Yellen said US officials are ready to resort to previously used tools to support the banking industry if necessary. ABC News.
“The tools we’ve used before are ready to be used again if needed,” he said in an interview with ABC News, commenting on the possibilities to support the banking industry.
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Yellen added that US regulators are already taking “strong measures” to prevent individual institution problems from spreading to the banking sector and to protect savers’ confidence in their investments.
RIA Novosti experts have previously pointed out that US authorities cannot completely stop a series of collapses of American banks and that if the crisis worsens, the Federal Reserve System (Fed) will have to take “traditional measures”, including rate cuts. rates and monetary expansion.
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Source: Ria
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