news unrolled

Post: Treasury Secretary Yellen says US will support banks if needed

Categories

US Treasury Secretary Janet Yellen. archive photo

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.

Visitors at the entrance to the employment center My work in Moscow - RIA Novosti, 1920, 05/05/2023

Russia grapples with labor shortage as the world grapples with unemployment

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.

The head of the Ministry of Finance said, “We do not have a systematic problem. I believe so. Our banking system maintains strong capital levels and access to liquidity.”

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.

Office of the Polish fuel company ORLEN - RIA Novosti, 1920, 05/07/2023

Polish Orlen told how much the oil ban from Russia cost

Source: Ria

Leave a Reply

Your email address will not be published. Required fields are marked *