Does FDIC Insurance Protect Us? 💸 #shorts

Faust Checho dives into FDIC insurance to see if it could actually protect us in the wake of a financial meltdown.

The FDIC insures your bank deposits about $250,000, but if you look closer at the amount of insurance the FDIC actually has to cover all of those deposits, you'll discover the reserve ratio is only at 1.35% so the question becomes, what will happen if an emergency actually does occur?

With the plummet of the reserve requirement following fiscal stimulus in 2020 we basically just have to have faith in our country. We all trust them right?

#shorts #FDIC #economics #banking #finance