In testimony before the Senate Finance Committee, Treasury Secretary Janet Yellen will tout the government's 'decisive and forceful actions' to shore up confidence in the banking system.
In testimony before the Senate Finance Committee Thursday, Yellen will tout the government's "decisive and forceful actions" to shore up confidence in the banking system, according to prepared remarks released by the Treasury Department.
"I can reassure the members of the committee that our banking system remains sound and that Americans can feel confident that their deposits will be there when they need them," Yellen plans to say. She argues in a prepared opening statement that the government's actions demonstrate its commitment to ensuring "that depositors' savings remain safe" and allowed bank customers to make payroll and pay their bills.
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Janet Yellen testifies in Congress with banks, markets under stressFollow along as MarketWatch provides live updates on congressional testimony from Treasury Secretary Janet Yellen. Yellen is appearing Thursday before the Senate Finance Committee, where the topic is President Joe Biden's 2024 budget proposal. But she's certain to be asked about the turmoil in banks and markets following the collapse of Silicon Valley Bank.
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