Treasury Secretary Yellen Holds Unscheduled Meeting With Top Financial Regulators Amid Turmoil in Banking Sector
U.S. Treasury secretary Janet Yellen initiated an un scheduled Financial Stability Oversight Council (FSOC) meeting with the country’s top financial regulators on Friday amid issues plaguing the U.S. banking sector. Banking stocks and all four U.S. benchmark indexes fell again on Friday as the government’s efforts last week failed to quell the country’s financial calamity. Janet Yellen Initiates Unscheduled Meeting With Country’s Top Financial Regulators The U.S. banking sector remains in turmoil following the collapse of three major banks two weeks ago and the federal government’s measures to address the issues. On Friday afternoon, the four primary U.S. benchmark stock indexes are flat, and bank stocks from institutions like Truist, First Republic, Pacwest Bancorp, and Western Alliance Bancorp have dropped lower than the previous day’s close. A report from Bloomberg states that U.S. Treasury secretary Janet Yellen has scheduled an un scheduled meeting with the ...