US Treasury Secretary Yellen spoke at the National Association for Business Economics 39th Annual Economic Policy Conference.
The focus of the speech was financial stability and there was nothing in it to shift around markets much at all.
Full text is here if you are interested.
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ps. We just had data on the Fed's balance sheet update released, This has ballooned out in recent weeks due to financial stability concerns. The size of the b/s dropped on the week, $8.76tln vs. $8.78 the previous week:
- loans to banks $152.6bn (from $163.9bn in the week prior)
- discount-window loans $88.2bn (from $110.2bn)
- BTFP up $10.7bn from the previous week though, to $64.4bn
- foreign repo facility (FIMA) slipped a small amount to $55bn from $60bn
