Secy. Yellen: Treasury may take action following GameStop stock saga

FILE – In this Aug. 14, 2019, file photo former Fed Chair Janet Yellen speaks with FOX Business Network guest anchor Jon Hilsenrath in the Fox Washington bureau in Washington. The Senate Finance Committee has approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th Treasury secretary (AP Photo/Andrew Harnik, File)

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UPDATED 11:02 AM PT – Thursday, February 4, 2021

Newly minted Treasury Secretary Janet Yellen recently dodged questions regarding the timeline for COVID-19 relief, while vowing action to protect hedge funds.

On Thursday, Yellen appeared for her first television interview since being confirmed. She avoided answering questions about how long Democrats are willing to negotiate with Republicans before they move to pass their own coronavirus relief bill.

Yellen also went on to suggest the Treasury Department could take action to protect investors and possibly punish retail traders following the GameStop saga, which impacted the markets.

“We really need to make sure that our financial markets are functioning properly, efficiently and that investors are protected,” she stated. “And we’re going to discuss these recent events and discuss whether or not the recent events warrant further action.”

Treasury Secretary Janet Yellen’s ethics agreement dictates she can’t take part in any dispute involving Citadel for at least one year after her last speaking arrangement unless given a written waiver: pic.twitter.com/jdxNi6OKFc

— Alex Salvi (@alexsalvinews) January 29, 2021

Yellen voiced her support for Joe Biden’s $1.9 trillion rescue package, but did not give a timeline for when she expects it will be done.

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