Skip to content
SVB Collapse

McCarthy Says He’s Hopeful for SVB Announcement by US on Sunday

Bloomberg business news
How Higher Rates Caused the Silicon Valley Bank Crisis

House Speaker Kevin McCarthy said he’s been in touch with the Biden administration and is hopeful that US officials will make an announcement on Sunday to address the collapse of Silicon Valley Bank. 

“Well, I have talked with the administration, from Jay Powell and Janet Yellen,” McCarthy said on Fox News’s “Sunday Morning Futures.” “They do have the tools to handle the current situation, they do know the seriousness of this and they are working to try to come forward with some announcement before the markets open.”