TL;DR: No wonder an entire generation of investors are used to ‘buying the dip’ and ‘holding on for dear life’.
US Treasury Secretary Janet Yellen has again overnight reassured American savers and global savers generally that the power of the US Treasury and Federal Reserve to loan unlimited amounts to banks will protect all savers, even the ones with millions of dollars in bank accounts with deposit insurance limited to US$250,000.
Paying subscribers can see more analysis of the bank crisis below the paywall fold and in the podcast above, including how financial markets now expect central banks to ‘blink’ and prioritise financial stability over getting inflation down.
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