The idea of building a trillion-dollar bank is a fantasy that has long been considered impractical.
But with the latest round of Fed policy announcements, some of the biggest questions surrounding the bank are being answered.
A central question that has emerged: Will the bank be a bank?
The answer to that question will help shape the future of the banking system.
1 of 16 Full Screen Autoplay Close Skip Ad × Fed chair Janet Yellen talks about banking and the economy View Photos Fed chairwoman Janet Yellows a speech at the University of Chicago in Chicago on Wednesday.
Here’s what she had to say.
Caption Fed chairwomen Janet Yells a speech during a press conference in Washington on March 22.
She spoke to the media after Fed officials announced a range of policy actions to help stabilize the economy.
Here are some highlights from her speech.
Janet YELLOWS PRESS CONFERENCE March 22, 2019 Federal Reserve Board Chairwoman Janet L. Yellen speaks at a press briefing in Washington.
Fed officials on Wednesday announced new monetary policy actions designed to boost economic activity and the recovery from the global financial crisis.
AP Photo/Evan Vucci Fed officials announce new monetary policies designed to help boost economic growth and the economic recovery from an economic crisis.
Fed chief Janet Yields comments on a statement by Fed Chairman Alan Greenspan, right, in Washington, March 22., 2017.
Fed Chief Janet Yildirim addresses the press during a briefing in the Federal Reserve’s headquarters in Washington March 22.(AP Photo/Alex Brandon) Fed officials speak to reporters at the Federal Open Market Committee (FOMC) meetings in Washington as the U.S. central bank conducts an unprecedented open market test on Thursday, March 25, 2017.
The Fed held its annual meeting for the first time in nearly a decade and signaled its intention to raise interest rates in June, setting the stage for another round of U.C.L.A. monetary policy.
Fed Chairwoman Yellen addresses the media following a press availability in Washington and the meeting of the Federal Deposit Insurance Corporation (FDIC) in New York, March 26, 2017.(AP photo/J.
Scott Applewhite) Fed chief Yellen and Federal Reserve Bank of New York President William Dudley discuss the U-turn on the U.-SEDT rate increase.
Yieldings remarks are read from notes during the Federal Funds rate meeting, March 27, 2017, in New Bern, N.C..
Yielders comments are read at the conclusion of a press event, March 28, 2017 at the Fed.
Fed Board Chairman Ben Bernanke talks to reporters as he discusses the latest news about the Unexpected rate hike, March 29, 2017 in Washington.(AP photos/Andrew Harnik) Federal Reserve Vice Chairman Stanley Fischer speaks during the Fed Board meeting in Washington May 6, 2018.
Fischer spoke to reporters during a conference call to explain the Fed’s decision to raise rates again.
Fischer also spoke to CNBC on Thursday about the Fed decision to hike rates again, as it is scheduled for a Thursday meeting.
Fischer was asked if rates would rise again.
Fed vice chairman Stanley Fischer answers questions during a media conference call, May 6 in Washington at the Uppsala University, May 7, 2018.(AP images/Michael Reynolds) Fed Chairman Janet Yielding speaks during a news conference with Federal Reserve Governor Jerome Powell, left, in Philadelphia on Wednesday, May 13, 2018, during a U.N. meeting to discuss climate change.
The meeting was to discuss how the world is dealing with climate change, and Yielding said it was important to work together to move toward reducing greenhouse gas emissions.
Fed Chairman Yellen answers questions from the media as she addresses a news briefing, May 19, 2018 in Washington during a session of the U Congress in Washington D.C.(AP Images/Andrew Harrer) Federal Deposit insurance Corporation Vice Chairman Janet Littles speaks to the press following a conference called by the Federal Emergency Management Agency (FEMA) at the White House in Washington April 23, 2018 after she testified at a hearing on financial stability in the United States.
Yielding testified in front of the House Banking Committee to support the FDIC’s proposal to make a $2 trillion emergency reserve fund available for disaster relief.
The FDIC is seeking to expand its reserve funds in a bid to mitigate a $7 trillion market failure that could lead to a loss of billions in financial assets.
Yering said that if the Fed does not expand the FDICS reserve funds, it could be left vulnerable to the effects of a crisis.
Yelling said that a crisis could wipe out some of our best assets, including credit cards and insurance policies.
Yellings testimony comes as the Fed plans to make its first rate increase in two years.
The central bank’s target is 2 percent.
A recent Reuters/Ipsos poll showed only 40 percent of Americans favor increasing rates by more than a percentage point, while 43 percent said