Yellen Says US Banks Are ‘Stabilizing,’ After Tumultuous March
- Treasury chief repeats government will act again if needed
- Yellen rejects criticism of FSOC for missing rising-rate risk
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Treasury Secretary Janet Yellen said the situation around US banks was “stabilizing,” though regulators stood ready to repeat the extraordinary actions taken in March to contain depositor runs.
“My read is the outflows from smaller and medium-sized banks are diminishing and matters are stabilizing, but it’s a situation we’re watching very closely,” Yellen told reporters in New Haven, Connecticut, Monday.