Treasury boss Yellen to say US banking system ‘remains sound’ on Capitol Hill

Treasury Secretary Janet Yellen will seek to reassure lawmakers about the US banking system’s stability on Thursday after the collapse of Silicon Valley Bank and trouble at Credit Suisse stoked fears of economic contagion.

Yellen is set to tout the federal government’s “decisive and forceful” actions to shore up the banking sector while testifying before members of the Senate Finance Committee.  -- More...

JUST IN: @SecYellen testifies, says the banking system is sound, says President @JoeBiden really cares, admits that Biden's inflation crisis and rising interest rates have exacerbated the banking crisis. pic.twitter.com/vKmzdVmdvg

— Simon Ateba (@simonateba) March 16, 2023