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La Yellen ci è o ci fa?
Janet it's called mobile banking ... do you own a smart phone? The game has now changed. The velocity of deposits is off the scales high now. An entire deposit base can leave in a few hours. --- *YELLEN SAYS DEPOSITS LEFT SVB AT PACE THAT WAS NOT SEEN BEFORE
Yellen today: We are not considering insuring all uninsured bank deposits. Powell, at the exact same time: Depositors should assume that their deposits are safe.
In the final 30 minutes of today's market session, stocks fell nearly 2%. This came as the Fed raised rates while Yellen said a full US bank backstop is unlikely. Over $800 billion in market value was erased in a matter of minutes. Confidence in markets and the system is gone.
In case you missed it: Yellen to blame for US stocks slump, not Powell or the Fed. Things got really ugly after Powell left the podium, with stocks accelerating their decline into the closing bell. (BBG)
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