{"id":1933557,"date":"2023-05-18T22:55:44","date_gmt":"2023-05-19T02:55:44","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-warns-bank-executives-of-severe-consequences-of-default\/"},"modified":"2023-05-18T22:58:40","modified_gmt":"2023-05-19T02:58:40","slug":"yellen-warns-bank-executives-of-severe-consequences-of-default","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-warns-bank-executives-of-severe-consequences-of-default\/","title":{"rendered":"Yellen cautions bank leaders about default&#8217;s harsh outcomes."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fyellen-warns-bank-executives-of-severe-consequences-of-default%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1933557&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Treasury Secretary Janet Yellen Meets with Top CEOs to Discuss Debt Ceiling and Economy<\/h2>\n<h3>Yellen Reiterates Confidence in Sound and Resilient Banking System<\/h3>\n<p>Treasury Secretary Janet Yellen recently met with over two dozen CEOs and executives to discuss the state of the economy and banking system, as well as the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-warns-bank-executives-of-severe-consequences-of-default\/\" title=\"Yellen cautions bank leaders about default's harsh outcomes.\">looming debt ceiling issue<\/a>. Yellen emphasized that the U.S. banking system is sound and resilient, with high capital levels and strong liquidity positions. She also praised measures taken by the Biden administration and federal regulators to protect depositors and maintain public confidence in the banking system.<\/p>\n<h3>Debt Ceiling at Top of Agenda<\/h3>\n<p>The meeting also focused on the debt ceiling, with Yellen warning of the catastrophic consequences of default for the financial system, American families, and businesses. She urged prompt action to address the issue, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ny-fed-president-john-williams-expects-interest-rates-to-climb\/\" title=\"NY Fed President John Williams Expects Interest Rates to Climb\">echoing recent comments<\/a> by Senate Majority Leader Chuck Schumer. Attendees included top banking executives such as JPMorgan Chase CEO Jamie Dimon, Bank of America CEO Brian Moynihan, and Citigroup CEO Jane Fraser.<\/p>\n<h3>Dimon Warns of Potential Catastrophe<\/h3>\n<p>Dimon has been particularly vocal about the debt limit issue, warning of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/landmark-climate-study-says-melting-arctic-wont-lead-to-more-severe-cold-weather\/\" title=\"Landmark Climate Study Says Melting Arctic Won\u2019t Lead to More Severe Cold Weather\">potentially catastrophic effects<\/a> of a default. While he believes a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/uk-may-ease-ccp-virus-lockdown-from-march-foreign-secretary-says\/\" title=\"UK May Ease CCP Virus Lockdown From March, Foreign Secretary Says\">worst-case scenario<\/a> will be avoided, he cautions that panic could set in as the deadline approaches, leading to volatility in the stock market and Treasurys. Other experts have also expressed concern about the impact of a default on global markets.<\/p>\n<h3>Conclusion<\/h3>\n<p>As the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/congress-out-of-session-as-jan-19-debt-ceiling-deadline-looms\/\" title=\"Congress Out of Session as Jan 19 Debt Ceiling Deadline Looms\">debt ceiling deadline looms<\/a>, top executives and policymakers are working to find a bipartisan solution to avoid a financial crisis. While the situation remains uncertain, Yellen&#8217;s confidence in the banking system and Dimon&#8217;s cautious optimism offer some reassurance to investors and the public.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Janet Yellen met with CEOs and executives to discuss the debt ceiling, economy, and banking system. Yellen reaffirmed the strength and resilience of the U.S. banking system. The meeting was organized by the Bank Policy Institute and attended by over two dozen participants.<\/p>\n","protected":false},"author":278,"featured_media":1933558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[5373,17517,16789,21649,5061,24417,5286],"class_list":["post-1933557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-bank","tag-cautions","tag-defaults","tag-harsh","tag-leaders","tag-outcomes","tag-yellen"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1933557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/278"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1933557"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1933557\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1933558"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1933557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1933557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1933557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}