Bank Failures And Rescue Test Yellen's Decades Of Experience

Silicon Valley Bank suffered significant losses, leading to a banking crisis.

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[{"selector":"#anim-595fed22-be7c-4207-9643-ded762cb55c0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Depositors rushed to withdraw their funds en masse. Arrow

[{"selector":"#anim-59bac443-fa0d-4f46-9fef-127bce8abf2d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-14.843749786673241%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Regulators placed the bank into FDIC receivership. Arrow

[{"selector":"#anim-677b4913-9059-4d67-8525-fff165cb3bc9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(34.172820948883164%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] The Treasury, the Federal Reserve, and FDIC announced that Signature Bank had also failed and was being seized. Arrow

[{"selector":"#anim-a0c41234-2b64-4cec-8afd-7469aadd7729 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Janet Yellen, Treasury Secretary, worked to assure multiple constituencies. Arrow

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[{"selector":"#anim-e70dd93b-84aa-46c4-a88d-0ede7addb584 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.247656136211504%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] The Biden administration faced accusations of bailing out risky banks due to its spending policies. Arrow

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