Federal Reserve Chair Janet Yellen said Friday, Aug. 25, that bank lending has grown in line with economic growth. Yellen also said that the U.S. has made significant progress toward price stability and maximum employment, two conditions that the bank has previously said would precede a hike in interest rates.
Yellen made her comments in a speech at a symposium in Jackson Hole, Wyoming, attended the global central bankers.
Here is how bank stocks reacted to her comments:
Goldman Sachs Group Inc. (GS) - Get Report shares were also still in the green, up 0.5%, but also lost some of the bigger gains from just five minutes before the start of Yellen's speech. Goldman Sachs shares were up 0.62% right around the time Yellen's speech began.
More of What's Trending on TheStreet:
- Hurricane Harvey Is a 125 mph Beast -- Top Storm Stocks to Watch
- The Federal Reserve May Secretly Want a Bear Market That Helps Topple Trump: Pro
- Here Are 3 Things to Do After a $750 Million Powerball Win
- The 30 Nastiest Storms in Recent U.S. History Have Caused Mind-Blowing Damage