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Yellen to chair previously unscheduled FSOC meeting on Friday - reports

Published Mar 24, 2023 11:10AM ET Updated Mar 24, 2023 11:20AM ET
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© Reuters

By Scott Kanowsky 

Investing.com -- U.S. Treasury Secretary Janet Yellen is set to chair a closed meeting of the Financial Stability Oversight Council (FSOC) on Friday, according to media sources citing a statement from the department.

It was not immediately clear when the previously unscheduled meeting would begin, nor if the council would provide further details about their discussions.

The gathering comes as regulators continue to try to assuage market concerns over the health of the financial sector following a bank run sparked by the failure of Silicon Valley Bank two weeks ago.

The body of financial regulators includes the heads of the Federal Reserve, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and other regulatory agencies. The FSOC is tasked with identifying risks to U.S. financial stability, although it has little legal authority.

Yellen to chair previously unscheduled FSOC meeting on Friday - reports
 

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Comments (15)
Vincent Rudi
Vincent Rudi Mar 24, 2023 3:55PM ET
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Red flag #1 Unscheduled meeting , not much to say after that , any action is a bad reaction. Clearly indicates a problem.
James King
James King Mar 24, 2023 12:59PM ET
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You never know that Yellen may be planning to mess up more depend on which side that her rich friends are investing.
Mark Jannetty
Mark Jannetty Mar 24, 2023 12:55PM ET
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grandma got run over by a bank run
ferney Restrepo
ferney Restrepo Mar 24, 2023 12:37PM ET
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I´m taking my money out of banks. the FED just created a bigger problem than inflation.
me ish
me ish Mar 24, 2023 12:37PM ET
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yep - Yellen couldn't chair a chimps tea party-  she's utterly clueless and is waaaaaaay out of her depth
Ella Yassin
Ella Yassin Mar 24, 2023 12:32PM ET
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Dont try to create false news.. This is paid media to report as long panic havoc happen.. Paid by some stupid billionaire
Chad Richer Than You
Chad Richer Than You Mar 24, 2023 12:20PM ET
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Get your cash out of the banks NOW and buy gold
Art Carrano
Art Carrano Mar 24, 2023 12:06PM ET
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Why a closed meeting? Are we not a free and open society? What is she hiding??
Pc Kc
Pc Kc Mar 24, 2023 12:06PM ET
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It's fine for US to have closed meetings but any other country is deemed Communist if they try it.
First Last
First Last Mar 24, 2023 12:06PM ET
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Pc Kc   We don't communist countries communist just for having closed meetings.
First Last
First Last Mar 24, 2023 12:06PM ET
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A lot of people here have been whining the Fed should not make public statements.
Dave Jones
Dave Jones Mar 24, 2023 12:05PM ET
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A committee of committees with no real power. Sounds great. How much money do these guys make to sit and do nothing but watch?
First Last
First Last Mar 24, 2023 12:05PM ET
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Sit and talk --  democracy in action.
Mart Zee
Mart Zee Mar 24, 2023 11:58AM ET
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Regulators messed it up, so they started more regulatory agencies to mess it up more.
Tyler Phillis
Tyler Phillis Mar 24, 2023 11:55AM ET
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The biggest risk to financial stability is the US government. The FSOC meeting will do more harm than good.
Vishal Makhija
Vishal Makhija Mar 24, 2023 11:55AM ET
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Agreed. The government needs to be more proactive and STOP issuing unnerving statements. They need to build up confidence .
Vishal Makhija
Vishal Makhija Mar 24, 2023 11:55AM ET
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They should stop increasing the rate of interest as anyways it ain't making much difference. Other tools could be deployed
Doug Ricketts
Doug Ricketts Mar 24, 2023 11:55AM ET
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The problem with the rate hikes is that they started to late. The steepness of the rate climb is unprecedented. Nothing like displaying erratic behavior and then wondering why nobody is following. Unfortunately the impacts are devastating.
 
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