The President of the United States of America, Joe Biden, made a speech on the recent banking crises.
The recent banking crises had affected the financial markets globally. In particular, the closure of Silicon Valley Bank and Signature Bank had a great impact on the world. US President Joe Biden, on the other hand, held a press conference about these events and expressed his views.
Biden Targets Banks in His Press Conference
The succession of negative news from the financial sector in the past days has mobilized many officials, including heads of state. The response of the US President Joe Biden to the increasing crises by the banks was not delayed. Joe Biden has harshly voiced his views on the banking crisis.
Making statements by targeting the current bank crisis, Biden said, “US citizens can be sure that their bank deposits are safe. The FDIC took control of Silicon Valley Bank first, then Signature Bank, on Friday. The managers of the troubled banks will be fired, obviously. We will do our best to prevent such crises from recurring. As the US government, we are convicted of protecting the banking system.” said.
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