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| Treasury Secretary Yellen and Federal Reserve Chair Powell Release Joint Statement |
U.S. Treasury Secretary Janet L. Yellen and Federal Reserve Board Chair Jerome H. Powell have issued a joint statement welcoming the Swiss authorities' announcement to support financial stability. According to the statement, the U.S. banking system has strong capital and liquidity positions, and the financial system remains resilient.
Yellen and Powell emphasized their ongoing communication and cooperation with international counterparts to support the implementation of measures that enhance financial stability. The statement follows an announcement by the Swiss National Bank on March 16, 2023, which outlined measures to support financial stability and mitigate risks to the Swiss economy.
The joint statement is an indication of the ongoing collaboration between the U.S. and international authorities to ensure the stability and resilience of the global financial system. The U.S. authorities' commitment to working closely with their international counterparts highlights the importance of cooperation in addressing financial risks and maintaining stability in the global economy.
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