The U.S. Treasury Secretary says our banking system is not threatened by any danger.
The U.S. Treasury Secretary states that the country’s banking system is stable and faces no threats.
Janet Yellen is under pressure to quickly present a plan to mitigate the economic consequences of the collapse of the major Silicon Valley Bank. This is the largest bank failure in the United States in the past fifteen years.
Ms. Yellen told CBS that she worked over the weekend, Saturday and Sunday, to prepare the government’s plan. She is under pressure to announce this plan before the financial markets reopen on Monday morning.
After regulatory bodies shut down Silicon Valley Bank, bank stocks around the world saw a significant drop on Friday before the financial markets closed.
