Comment on Yellen to Tell Congress the U.S. Banking System ‘Remains Sound’

Yellen to Tell Congress the U.S. Banking System ‘Remains Sound’

WASHINGTON — A week after the second-largest bank collapse in U.S. history, Treasury Secretary Janet Yellen is set to tell the Senate Finance Committee that the nation’s banking system “remains sound” and Americans “can feel confident” about their deposits. Yellen will be the first Biden administration official to face lawmakers over the decision to protect uninsured money at two failed regional banks, a move that some observers have criticized as a bank “bailout.” “The government took decisive and forceful actions to strengthen public confidence” in the U.S.

 

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