Last month’s upheaval within the banking sector hasn’t pushed America off course from achieving a soft landing, US Treasury Secretary Janet Yellen says
Last month’s upheaval within the banking sector hasn’t pushed America off course from achieving a soft landing, US Treasury Secretary Janet Yellen told CNN’s Fareed Zakaria in an exclusive interview Friday. “I do think there’s a path to bring down inflation while maintaining what I think all of us would regard is a strong labor market,” Yellen said. “And the evidence that I’m seeing suggests we are on that path.” She added: “Are there risks? Of course.
Last month, the collapse of Silicon Valley Bank and Signature Bank triggered a crisis in the US banking sector, roiled financial markets and fueled uncertainty about the potential for negative ripple effects to spread throughout the broader economy. Treasury, in conjunction with the Federal Reserve and the Federal Deposit Insurance Corporation, intervened after the regional bank failures to ensure bank customers could access all their money and to stave off future bank runs.
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