Key takeaways:
- Tucker Carlson made a mistake when he falsely claimed a 2017 clip of Treasury Secretary Janet Yellen was from 2007.
- The Federal Deposit Insurance Corporation (FDIC) has been in place since 1933, providing insurance for deposits up to certain thresholds at American banks.
- Carlson’s mistake was a reminder of the importance of the FDIC and its role in protecting the nation’s banking system, as well as the importance of being accurate when discussing the financial system.
On Thursday, Fox News host Tucker Carlson addressed an on-air “mistake” he made when he falsely claimed that a 2017 clip of Treasury Secretary Janet Yellen was from 2007. Carlson had made the claim while discussing Yellen’s remarks that she didn’t believe “deficit spending” was a main cause of high inflation rates, and then he went after her 2021 statement that inflation would be transitory.
The Federal Deposit Insurance Corporation (FDIC) has been in place since the early days of the New Deal in 1933, providing insurance for deposits up to certain thresholds at American banks. This system was relied on when the federal government announced it would guarantee all accounts at Silicon Valley Bank and Signature Bank after they became the second- and third-largest bank failures in U.S. history.
The FDIC’s operations are designed to reassure depositors that their money is safe in the nation’s banking system and limit the risk of a contagion effect by helping to prevent one bank’s failure from turning into a financial panic that jeopardizes others.
Carlson’s mistake was a reminder of the importance of the FDIC and its role in protecting the nation’s banking system. It also serves as a reminder of the importance of being accurate when discussing the financial system, especially in times of crisis.
Be First to Comment