Biden official helps restore confidence as rank stocks rise

  • 📰 Newsweek
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 52%

Business News News

Business Business Latest News,Business Business Headlines

Banks experienced a stock bump following U.S. Treasury Secretary Janet Yellen's comments before Congress.

Investor confidence has resulted in market swings this week as Wall Street braces for more volatility. The banking market became precarious after the seizure of two U.S. financial institutions,and Signature Bank, which was soon followed by shares for Credit Suisse dropping to an all-time low on Wednesday.

In the main image, U.S. Treasury Secretary Janet Yellen testifies before the Senate Finance Committee in the Dirksen Senate Office Building on Capitol Hill on March 16, 2023, in Washington, DC. The smaller picture shows an undated stock image of a technical financial graph. After Yellen’s testimony, many of the country’s largest banks experienced a stock increase.Despite Biden's attempts to assuage markets, stocks fell on Monday.

"I can reassure the members of the committee that our banking system is sound, and that Americans can feel confident that their deposits will be there when they need them," Yellen said to Senate Finance Committee."This week's actions demonstrate our resolute commitment to ensure that depositors' savings remains strong and that depositors' savings remain safe.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

We ain’t stupid. If the institutions that claim to be news media just print any old propaganda- You know the US central bank bought a day on Wall Street!

I'm willing to show 10 lucky people on how to earn 0.92 BTC ($15,000)and more daily. No withdrawal fee You don't get to send funds to anyone Interested please PM

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 468. in BUSİNESS

Business Business Latest News, Business Business Headlines