US Treasury Secretary Reiterates to Act on a Contagious Deposit Run

US Treasury Secretary Yellen reiterated that the nation is ready to take action to suppress the contagious runs in the US banking system. According to Yellen, the banking system is stabilising, and it is still uncertain how OPEC+'s production cuts will affect prices. Such action would not help global economic growth but fuel uncertainty. Also, it is not an appropriate time to reconsider the price cap on Russian oil, said Yellen.