Posted on 06/07/2023 1:25:27 PM PDT by ChicagoConservative27
Treasury Secretary Janet Yellen said on Wednesday it wouldn’t surprise her to see some bank consolidation in the near future.
“I see strength in the banking system that has a diverse set of financial institutions capable of satisfying different needs across our economy,” Yellen said on CNBC’s “Squawk Box,” adding, “We do have a diverse banking system with strong community banks, regional banks, larger banks that are involved in global business, and I wouldn’t want to see that threatened.”
However, she continued, “Certainly in this environment, some banks are experiencing pressure on earnings and there is motivation to see some consolidation and it wouldn’t surprise me to see some of that going forward.”
(Excerpt) Read more at thehill.com ...
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