You Can Take It To The Bank
Markets have lurched around, reacting to the Fed’s bizarre policy reversals.
Treasury Secretary Janet Yellen has been very clear about Fed policy.
Here’s a distillation of her recent statements…
We will not bail out the banks.
OK, we’ll cover 100% of all depositors, but that’s not a bail out.
Naturally, we’ll guarantee 100% of all deposits, for all banks in the U.S.
No we won’t. We would never do that.
Actually, we might do that.
Whatever we do, it will definitely be the right thing.
You can take that to the bank.