Oh boy, let’s dive into these released remarks and see what our gal Yellen has to say. Apparently, the council doesn’t have a favorite tool in its toolbox when it comes to preventing financial problems. They examine each situation and make a plan accordingly. In other words, they are not a one-trick pony.

Our girl Yellen didn’t stop there, she stressed the importance of taking a comprehensive and rigorous approach to addressing the many financial vulnerabilities that exist today and may arise tomorrow. To tackle these issues, they need to have a broad set of flexible tools. It’s like going to a buffet, you don’t just stick to one dish, you gotta have a little bit of everything to satisfy that hunger.

Now, let’s talk about the big dogs, the Treasury Department, and the Federal Deposit Insurance Corp. They had to backstop depositors because they were afraid of ripple effects from the collapse of SVB and Signature Bank. These two banks were catering to digital currency exchanges and boy did they bite the dust. The government saved the day by closing down the banks, seizing their deposits, selling them to other financial institutions, and avoiding a crisis worse than the one in 2008. Looks like we can all rest easy tonight knowing the big guys have our backs.

Serious News: cnbc