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.
(Bloomberg) — 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.”
“I’m hopeful that something can be announced today to move forward,” the California Republican said. “Silicon Valley Bank has a lot of assets. It’s just where the capital is currently at. So it is attractive for someone to want to purchase it. It’s just the timeline of where to move forward.”
McCarthy didn’t specify the nature of any announcement that regulators might be preparing.
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