Neel Kashkari- "I heard from a bank in our region, a well-to-do customer came in and said ‘I want to withdraw $600,000 in cash.’ Now, we can supply all the cash that the banks need to meet their customer’s concerns. But it just speaks to the fear and the uncertainty that’s rippling through the economy. "
“This is literally why Central Banks exist. We’re the lender of last resort. This is literally why Central Banks exist. If everybody gets scared at the same time and they demand their money back, that’s why the Federal Reserve is here. We will absolutely meet those demands.”
“That’s literally what congress has told us to do. That’s the authority they have given us, to print money and provide liquidity into the financial system. We create it electronically and we can also print it, with the Treasury Department, so you can get money out of your ATMs.”
“We’re far from out of ammunition…your ATM is safe, your banks are safe. There’s an infinite amount of cash at the Federal Reserve.”
[youtube]http://www.youtube.com/watch?v=mfEqvgEfXLY[/youtube]