{"id":59684,"date":"2023-03-20T14:44:39","date_gmt":"2023-03-20T18:44:39","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684"},"modified":"2023-03-20T14:44:39","modified_gmt":"2023-03-20T18:44:39","slug":"flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684","title":{"rendered":"FLASHBACK: Treasury Sec. Yellen didn’t ‘believe’ she\u2019d see another financial crisis in her lifetime"},"content":{"rendered":"
\n

Treasury Secretary Janet Yellen\u2019s<\/u><\/a> words may come back to haunt her as a banking crisis looms in America and around the globe.<\/p>\n

In 2017, Yellen \u2013 while chief of the Federal Reserve \u2013 made <\/u><\/a>headlines<\/u> <\/a>when she said she did not “believe” another financial crisis like the crash and the Great Recession in 2008 would happen in our lifetime.<\/p>\n

“Will I say there will never, ever be another financial crisis? No, probably that would be going too far. But I do think we\u2019re much safer and I hope that it will not [happen] in our lifetimes and I don\u2019t believe it will,” she said in London in 2017.<\/p>\n

TEMPERS FLARE AFTER GOP SENATOR CALLS OUT BIDEN ADMIN FRO LYING ABOUT SOCIAL SECURITY CLAIM<\/u><\/strong><\/a><\/p>\n

Yellen\u2019s remarks came during a June 2017 question-answer session in London with Lord Nicholas Stern, president of the British Academy, to discuss global economic issues. Yellen said the architecture of the financial system had changed in ways that made it safer for all parties involved, citing a number of factors, including the Fed\u2019s annual stress testing practices that simulate a crisis-like situation with significant swings in the stock market, a decline in home prices and a decline in the unemployment rate.<\/p>\n

Yellen said while the financial system was “much safer and much sounder,” the Fed and other institutions were “doing a lot more” to look for possible risks that may not be readily apparent or not subject to strict regulation.<\/p>\n

Online denizens torched Yellen\u2019s 2017 remarks, with popular financial Twitter account Wall Street Silver resurfacing the comments.<\/p>\n

Journalist Jason Howerton last week blasted Yellen\u2019s comments about future financial crises as well as her 2021 comments about inflation being “transitory.”<\/p>\n

“Janet Yellen declared as Fed Chair that there would never be another financial crisis in her lifetime,” Howerton wrote. “Janet Yellen declared inflation was \u2018transitory\u2019 in 2021.”<\/p>\n

“Janet Yellen is now declaring the banking system is \u2018sound,\u2019” he continued. “Do you understand?”<\/p>\n

Other users poked fun at Yellen\u2019s previous statements, with one user joking that the Treasury secretary would not have seen World War II on the horizon in 1918.<\/p>\n

“Janet Yellen in 1918: I don\u2019t believe we\u2019ll see another big war in our lifetime,” Tradewriter wrote.<\/p>\n

Silicon Valley Bank\u2019s (SVB) collapse earlier this month and last week\u2019s rush on the Fed by banks taking advantage of the emergency lending program that saw the most money borrowed since 2008\u2019s financial crash have ignited the big, red, blinking crisis sign.<\/p>\n

The latest data published by the Fed shows that banks borrowed $11.9 billion from the new emergency backstop known as the Bank Term Funding Program, which was rolled out on Sunday evening. The program will provide loans to banks, credit unions and other financial institutions for up to a year on highly favorable terms in exchange for collateral like Treasurys and other government-backed bonds.<\/p>\n

Another $152.8 billion was borrowed from the discount window \u2013 the more-traditional lending facility that is used to provide liquidity to the U.S. banking system. That is up from $4.58 billion the previous week and smashes the record of $111 billion hit during the 2008 financial crisis. The discount window provides loans of up to just 90 days.<\/p>\n

The Fed did not identify which banks received the roughly $164.8 billion in funding, nor did it specify how many requested it.<\/p>\n

Fox News Digital’s Megan Henney and Victoria Craig contributed reporting.<\/i><\/p>\n<\/div>\n

Source – https:\/\/www.foxnews.com\/politics\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Treasury Secretary Janet Yellen\u2019s words may come back to haunt her as a banking crisis looms in America and around the globe. In 2017, Yellen […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[16563],"tags":[],"stock_ticker":[],"class_list":["post-59684","post","type-post","status-publish","format-standard","hentry","category-market-news","entry"],"acf":[],"yoast_head":"\nFLASHBACK: Treasury Sec. Yellen didn't 'believe' she\u2019d see another financial crisis in her lifetime - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FLASHBACK: Treasury Sec. Yellen didn't 'believe' she\u2019d see another financial crisis in her lifetime - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"Treasury Secretary Janet Yellen\u2019s words may come back to haunt her as a banking crisis looms in America and around the globe. In 2017, Yellen […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684\" \/>\n<meta property=\"og:site_name\" content=\"Wall Street PR\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WallStreetPR\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-20T18:44:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2021\/06\/businessman-showing-business-evolution1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"715\" \/>\n\t<meta property=\"og:image:height\" content=\"423\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684#article\",\"isPartOf\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/6e00efa2abc413bdc0bca51a90c54d36\"},\"headline\":\"FLASHBACK: Treasury Sec. Yellen didn’t ‘believe’ she\u2019d see another financial crisis in her lifetime\",\"datePublished\":\"2023-03-20T18:44:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684\"},\"wordCount\":582,\"publisher\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#organization\"},\"articleSection\":[\"Market News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684\",\"name\":\"FLASHBACK: Treasury Sec. Yellen didn't 'believe' she\u2019d see another financial crisis in her lifetime - Wall Street PR\",\"isPartOf\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#website\"},\"datePublished\":\"2023-03-20T18:44:39+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cablemanpro.com\/wallstreetpr\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FLASHBACK: Treasury Sec. Yellen didn’t ‘believe’ she\u2019d see another financial crisis in her lifetime\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#website\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/\",\"name\":\"Wall Street PR\",\"description\":\"Latest News From WallStreet\",\"publisher\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/cablemanpro.com\/wallstreetpr\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#organization\",\"name\":\"Wall Street PR\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/10\/brand-logo.png\",\"contentUrl\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/10\/brand-logo.png\",\"width\":537,\"height\":70,\"caption\":\"Wall Street PR\"},\"image\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/WallStreetPR\/\",\"https:\/\/x.com\/WallstreetPRs\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/6e00efa2abc413bdc0bca51a90c54d36\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2022\/09\/360_F_336393115_5gCUfwn76x3MJaCJMYDKLoRebkC8QyrL-300x300.jpg\",\"contentUrl\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2022\/09\/360_F_336393115_5gCUfwn76x3MJaCJMYDKLoRebkC8QyrL-300x300.jpg\",\"caption\":\"admin\"},\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/author\/admin\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FLASHBACK: Treasury Sec. Yellen didn't 'believe' she\u2019d see another financial crisis in her lifetime - Wall Street PR","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684","og_locale":"en_US","og_type":"article","og_title":"FLASHBACK: Treasury Sec. Yellen didn't 'believe' she\u2019d see another financial crisis in her lifetime - Wall Street PR","og_description":"Treasury Secretary Janet Yellen\u2019s words may come back to haunt her as a banking crisis looms in America and around the globe. In 2017, Yellen […]","og_url":"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684","og_site_name":"Wall Street PR","article_publisher":"https:\/\/www.facebook.com\/WallStreetPR\/","article_published_time":"2023-03-20T18:44:39+00:00","og_image":[{"width":715,"height":423,"url":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2021\/06\/businessman-showing-business-evolution1.jpg","type":"image\/jpeg"}],"author":"admin","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684#article","isPartOf":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684"},"author":{"name":"admin","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/6e00efa2abc413bdc0bca51a90c54d36"},"headline":"FLASHBACK: Treasury Sec. Yellen didn’t ‘believe’ she\u2019d see another financial crisis in her lifetime","datePublished":"2023-03-20T18:44:39+00:00","mainEntityOfPage":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684"},"wordCount":582,"publisher":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#organization"},"articleSection":["Market News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684","url":"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684","name":"FLASHBACK: Treasury Sec. Yellen didn't 'believe' she\u2019d see another financial crisis in her lifetime - Wall Street PR","isPartOf":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#website"},"datePublished":"2023-03-20T18:44:39+00:00","breadcrumb":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/flashback-treasury-sec-yellen-didnt-believe-shed-see-another-financial-crisis-in-her-lifetime-59684#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cablemanpro.com\/wallstreetpr\/"},{"@type":"ListItem","position":2,"name":"FLASHBACK: Treasury Sec. Yellen didn’t ‘believe’ she\u2019d see another financial crisis in her lifetime"}]},{"@type":"WebSite","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#website","url":"https:\/\/cablemanpro.com\/wallstreetpr\/","name":"Wall Street PR","description":"Latest News From WallStreet","publisher":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cablemanpro.com\/wallstreetpr\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#organization","name":"Wall Street PR","url":"https:\/\/cablemanpro.com\/wallstreetpr\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/logo\/image\/","url":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/10\/brand-logo.png","contentUrl":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/10\/brand-logo.png","width":537,"height":70,"caption":"Wall Street PR"},"image":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/WallStreetPR\/","https:\/\/x.com\/WallstreetPRs"]},{"@type":"Person","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/6e00efa2abc413bdc0bca51a90c54d36","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/image\/","url":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2022\/09\/360_F_336393115_5gCUfwn76x3MJaCJMYDKLoRebkC8QyrL-300x300.jpg","contentUrl":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2022\/09\/360_F_336393115_5gCUfwn76x3MJaCJMYDKLoRebkC8QyrL-300x300.jpg","caption":"admin"},"url":"https:\/\/cablemanpro.com\/wallstreetpr\/author\/admin"}]}},"_links":{"self":[{"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/posts\/59684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/comments?post=59684"}],"version-history":[{"count":0,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/posts\/59684\/revisions"}],"wp:attachment":[{"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/media?parent=59684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/categories?post=59684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/tags?post=59684"},{"taxonomy":"stock_ticker","embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/stock_ticker?post=59684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}