US not considering 'blanket insurance' for bank deposits, Yellen says

'WASHINGTON, March 22 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Wednesday that the Federal Deposit Insurance Corporation (FDIC) was not considering providing "blanket insurance" for banking deposits following the collapse of two prominent U.S. banks this month.

Yellen made the comments at a hearing of a U.S. Senate appropriations subcommittee, where lawmakers posed questions about the U.S. administration's efforts to protect depositors and prevent bank runs.'

- US not considering 'blanket insurance' for bank deposits, Yellen says, March 22, 2023



Context

..Powell warns inflation fight continues, March 22, 2023

(Global Stagflation) - UK inflation jumps to 10.4%, surprising analysts - 'Food prices jumped 18%..'

(Banking Reform)(Ethics) - 'A stable financial system .. [doesn't] exist in the U.S.' - The Wall Street Journal Editorial Board


Global Stagflation) - '..the Federal Reserve "must unwind" its extraordinary funding facility .. encourages future irresponsible behavior..'

Economic Recessions, Banking Reform, and the Future of Capitalism - By Jesús Huerta de Soto