Yellen Says US Prepared for Additional Deposit Actions If Needed
- Regulators under scrutiny for handling of recent bank failures
- Yellen appears at House panel after Senate hearing Wednesday
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Treasury Secretary Janet Yellen told US lawmakers that regulators would be prepared for further steps to protect the banking system if warranted, a day after her remarks on nationwide deposit insurance rattled markets.
Her reassurance came at the top of a hearing Thursday, before a subcommittee of the House Appropriations Committee, when she read prepared remarks that were almost identical to what she delivered a day before in the Senate, but added: “Certainly, we would be prepared to take additional actions if warranted.”