POTUS-Elect46 · February 18, 2026 10:30 · POTUS-Elect46 · Feb 18, 2026
diff --git a/Address to CNBC and the New York Stock Exchange b/Address to CNBC and the New York Stock Exchange
 Address to CNBC and the New York Stock Exchange
 Ladies and gentlemen, members of the financial press, and the leadership of America’s capital markets:

 Thank you for gathering today. I want to speak with clarity, transparency, and a steady hand about the direction of our nation’s financial posture. The United States thrives when our markets are strong, our institutions are disciplined, and our economic decisions are grounded in long‑term stability rather than short‑term pressure.

 Over the past several months, various institutions have approached the federal government and the Federal Reserve with requests for support—requests to backstop credit instruments, underwrite new bond issuances, or provide federal guarantees for funds that carry significant private‑sector risk.

 Today, I want to be unmistakably clear:
 The Federal Reserve will not be funding, backstopping, or guaranteeing credit bonds, private funds, or any similar financial vehicles that institutions are asking us to underwrite.

 This is not a punishment. It is not a rebuke. It is a return to fundamentals.

 Our financial system works best when risk is priced by the market—not transferred to taxpayers, not absorbed by federal balance sheets, and not socialized when profits remain privatized. The era of assuming that Washington will automatically step in to absorb private‑sector exposure is over.

 We are committed to:

 A stable, predictable monetary environment

 A disciplined federal posture that avoids unnecessary intervention

 A marketplace where innovation and responsibility coexist

 A financial sector that stands on its own strength, not federal guarantees

 Let me also be clear about what this means for the American people:
 Your savings, your retirement accounts, your investments, and your economic future are best protected when the system is honest about risk and transparent about responsibility. That is the environment we are restoring.

 To the institutions listening today:
 We welcome your partnership. We welcome your innovation. But the federal government will not be the insurer of last resort for private credit expansion. If a fund, a bond, or a financial product is sound, the market will support it. If it is not, the market will correct it. That is how a healthy economy functions.

 America’s financial strength has never come from shortcuts. It has come from discipline, accountability, and the courage to say “no” when “no” is the right answer.

 Thank you.
 Let’s continue building a stronger, more resilient American economy—together.
	Address to CNBC and the New York Stock Exchange
	Ladies and gentlemen, members of the financial press, and the leadership of America’s capital markets:

	Thank you for gathering today. I want to speak with clarity, transparency, and a steady hand about the direction of our nation’s financial posture. The United States thrives when our markets are strong, our institutions are disciplined, and our economic decisions are grounded in long‑term stability rather than short‑term pressure.

	Over the past several months, various institutions have approached the federal government and the Federal Reserve with requests for support—requests to backstop credit instruments, underwrite new bond issuances, or provide federal guarantees for funds that carry significant private‑sector risk.

	Today, I want to be unmistakably clear:
	The Federal Reserve will not be funding, backstopping, or guaranteeing credit bonds, private funds, or any similar financial vehicles that institutions are asking us to underwrite.

	This is not a punishment. It is not a rebuke. It is a return to fundamentals.

	Our financial system works best when risk is priced by the market—not transferred to taxpayers, not absorbed by federal balance sheets, and not socialized when profits remain privatized. The era of assuming that Washington will automatically step in to absorb private‑sector exposure is over.

	We are committed to:

	A stable, predictable monetary environment

	A disciplined federal posture that avoids unnecessary intervention

	A marketplace where innovation and responsibility coexist

	A financial sector that stands on its own strength, not federal guarantees

	Let me also be clear about what this means for the American people:
	Your savings, your retirement accounts, your investments, and your economic future are best protected when the system is honest about risk and transparent about responsibility. That is the environment we are restoring.

	To the institutions listening today:
	We welcome your partnership. We welcome your innovation. But the federal government will not be the insurer of last resort for private credit expansion. If a fund, a bond, or a financial product is sound, the market will support it. If it is not, the market will correct it. That is how a healthy economy functions.

	America’s financial strength has never come from shortcuts. It has come from discipline, accountability, and the courage to say “no” when “no” is the right answer.

	Thank you.
	Let’s continue building a stronger, more resilient American economy—together.
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