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White House Is ‘Monitoring’ Gamestop, Market Short Squeeze

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White House Is ‘Monitoring’ Gamestop, Market Short Squeeze

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Following several days of significant short squeezes of stocks such as Gamestop, AMC Entertainment, BlackBerry, and others, the White House is looking into the situation. White House press secretary Jen Psaki said that the administration and Treasury Secretary Janet Yellen are both “monitoring the situation.” “The stock market isn’t the only measure of the health of our economy,” she stated at a press briefing, adding that it “doesn’t reflect how working or middle-class families are doing.” Psaki started off her answer by mentioning that Yellen is the first female Treasury secretary. She was responding to a question from a White House reporter about whether there have been “conversations with the [Security and Exchange Commission]” about the short squeeze initiative, which appears to be spreading via the sub-Reddit Wallstreetbets, Twitter, and 4chan. According to Reuters, “Retail traders scored against professionals on Wednesday as hedge funds Citron and Melvin retreated with heavy …

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