Treasury Secretary Janet Yellen will meet with top financial regulators to discuss the recent stock market frenzy propelled by a mass movement of retail investors on Reddit targeting GameStop and other heavily shorted stocks.
Yellen will meet this week, as soon as Thursday, with the heads of Securities and Exchange Commission, the Federal Reserve, the Federal Reserve Bank of New York and the Commodity Futures Trading Commission, the Treasury said on Tuesday.
“Secretary Yellen believes the integrity of markets is important and has asked for a discussion of recent volatility in financial markets and whether recent activities are consistent with investor protection and fair and efficient markets,” Treasury spokeswoman Alexandra LaManna said in a statement to Reuters.
The clue here is that another layer of regulations does not help, so avoid that. If she is still uncertain, then best to do nothing.
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