Janet's Yellin' Ep687
Bitcoin And . . .
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Yellen Defends Government Intervention to Avoid Another Silicon Valley Banks
The environment that we're in is caused directly by the Fed raising rates. This isn't an environment into which the Federal Reserve should be raising rates and adding additional pressure on the system as financial stability is the Fed's first responsibility. The Treasury Secretary said, quote, our intervention was necessary to protect the broader US banking system because it's all interconnected. So you're concerned of tiny things causing contagion? That means your shit is fragile, Yellen.
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