00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Federal Reserve Chair Jerome Powell said during a talk at Harvard University that
00:06recent turmoil in the private credit sector does not pose a broader financial system risk.
00:11He said the $3 trillion market is a relatively small slice of assets and that officials are
00:15monitoring it closely for links to the banking system. Powell said regulators do not see signs
00:20of contagion and described current conditions as a correction where some investors may lose money.
00:25Pressure has built from rising rates, tighter liquidity, and a risk-off environment.
00:28BlackRock limited withdrawals from its $26 billion lending fund after redemptions reached 9.3%,
00:34while Oak Tree satisfied requests and plans a share repurchase.
00:37Jim Cramer urged investors to accept losses and exit positions.
00:41For all things money, visit Benzinga.com.
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