WH’s Psaki on GameStop: Yellen “Monitoring The Situation”

WH’s Psaki on GameStop: Yellen “Monitoring The Situation”

White House press secretary Jen Psaki fielded a question about the sudden rise of GameStop’s stock at Wednesday’s press briefing and assured reporters that Treasury Secretary Janet Yellen and the White House economic team are “monitoring the situation.”

“Is the White House concerned about the stock market activity we’re seeing around GameStop and now with some other stocks as well, including the subsidiary — or whatever — the company that was Blockbuster? And have there been any conversations with the SEC about how to proceed?” a reporter asked.

“Well, I’m also happy to repeat that we have the first female Treasury Secretary and a team that’s surrounding her,” Psaki said. “And, often, questions about market we’ll send to them. But our team is, of course — our economic team, including Secretary Yellen and others, are monitoring the situation. It’s a good reminder, though, that the stock market isn’t the only measure of the health of our economy. It doesn’t reflect how working and middle-class families are doing.”

“As you all know from covering this, we’re in the midst of a K-shaped recovery,” she said. America’s workers are struggling to make ends meet, which is why the President has introduced this urgent package to get immediate relief to families.”

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