
President Joe Biden said he believes his administration has done a “pretty damn good job” working to resolve the banking crisis and said he thinks it will “take a little while for things to just calm down.”
“So I think it’s gonna take a little while for things to just calm down but I don’t see anything on the horizon that’s about to explode but I do understand there’s an unease about this and these midsize banks have to be able to survive and I think they’ll be able to do that,” Biden said during a news conference with Prime Minister Justin Trudeau in Canada.
Asked what measures his administration would take, including whether he would guarantee more deposits, Biden said if needed he would “have the FDIC use the power it has to guarantee those loans above 250K like they did already.”
“Look, I think we’ve done a pretty good damn job,” Biden said adding, “people’s savings are secure” and “the banks are in pretty good shape.”