Power Breakfast: Yellen Says Not Considering Blanket Insurance For All U.S. Bank Deposits

The US market closed down lower amid the remarks that the interest rates will not decrease this year. The Dow fell 530 points and Nasdaq closed down 190 points. The Federal Reserve raised the target range for its benchmark interest rate by 0.25%. Treasury Secretary Janet Yellen said, "regulators aren't looking to provide 'blanket' deposit insurance to stabilize the US banking system.''