White House Says Treasury Secretary Closely Tracking Silicon Valley Bank Failure

Council of Economic Advisers Chair Cecilia Rouse say Treasury Secretary Janet Yellen is closely tracking the FDIC's decision to seize Silicon Valley Bank assets and says she has confidence in the regulators. Asked if there might be a ripple effect among the banking sector, Rouse says the country is in a different position than it was during the 2007-8 financial crisis and that stress tests and other tools have been put in place to provide more resilience to the banking system. close