Treasury Secretary Yellen stated that they are prepared for additional deposit actions if warranted. "Every deposit is not insured as it is only up to $250K. Congress would have to step in to say that every deposit is insured. For banks, deposits will flow out and just because of insurance fears, but also because people are looking for higher yields. Jerome Powell stated that the Federal Reserve does not know what will happen in the future," says Crit Thomas.
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