Biden official helps restore confidence as rank stocks rise

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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.

 

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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!

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