Balanced News: Nearly $100 billion in deposits pulled from banks; officials call system ‘sound and resilient’

The banking system is safe, as fresh data showed customers recently pulled nearly $100 billion in deposits. Treasury Secretary Janet Yellen, Federal Reserve Chairman Jerome Powell and more than a dozen other officials convened a special closed meeting of the Financial Stability Oversight Council on Friday. Officials reassured the public that the banking system is sound and resilient, as fresh data showed customers recently pulled nearly $100 billion in deposits.