Kofi Mensah About a four weeks ago, two of the biggest banks in the U.S., Silicon Valley bank and Signature Bank, stopped working. Janet Yellen, who is in charge of the government’s money or Treasure Secretary, spoke about it at Yale University on Monday. She said that things are getting better and she will make sure that nobody else has their money taken away.
Recently, Secretary Janet Yellen of the U.S. Treasury spoke at Yale University and afterward she shared her thoughts with reporters. She talked about issues that have been going on recently within America’s banking sector and also mentioned the decision made by Saudi Arabia and OPEC to reduce oil production over the weekend.
People questioned Yellen about what could happen if OPEC made a decision. She said that it was unfortunate that they did and added that it would probably take some time to understand the effect of this decision on oil prices.
Yellen said that lots of U.S. banks have closed recently after the first week of March, and the Treasury is carefully keeping an eye out for this situation. He also made sure that the U.S. government won’t let any dangerous banking situations happen like a lot of people withdrawing their money all at once.
Former Federal Reserve Chief Janet Yellen said she believes the government’s actions are helping to fix problems. She also said they’re paying close attention and keeping an eye out. Lastly, Yellen suggested that the government should focus more on climate change.
Treasury Secretary Janet Yellen has said that the financial risks of climate change have not been addressed enough. Instead, she is focusing on finding ways to solve this problem and turn it into an opportunity. Yellen talked about the Inflation Reduction Act, which is a proposed piece of legislation by the Biden administration aimed at tackling the climate crisis.
Do you agree or disagree with what Janet Yellen recently said about OPEC reducing oil production, US banks and global warming? Share your opinion in the comments below.
