Janet Yellen: “President Biden has made absolutely clear that he opposes increasing taxes on people earning less than $400,000.”

I will never forget it. I was involved in it, and we did everything we could to put together a package of measures that would stop what could have become a run on the banking system.

The President has been very clear that no family earning less than $400,000 will face a tax hike.

I think what we found during that time was that implementing strong capital, liquidity, and risk management rules led to a stronger banking system.

I do have concern about where we are going unless we undertake some significant steps to reduce the budget deficit.