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Kevin McCarthy Confirms Administration's Ability to Tackle SVB Crisis

U.S. House of Representatives Speaker Kevin McCarthy has assured the public of the Biden administration and the Federal Reserve's capability to handle the Silicon Valley Bank crisis.

Kevin McCarthy
Kevin McCarthy

Administration Has Tools to Address SVB Crisis

In a recent interview with Fox News, McCarthy stated that the administration has the necessary tools to handle the current situation and is aware of its seriousness.

Administration Working on Announcement Before Market Open

Furthermore, he mentioned that the administration is working on a potential announcement to be made before the markets open.