McCarthy says Treasury, Fed have tools to handle SVB crisis

U.S. House of Representatives Speaker Kevin McCarthy said on Sunday that the Biden administration and the Federal Reserve are fully capable of addressing Silicon Valley Bank.

"They do have the tools to handle the current situation," McCarthy told the Fox News program Sunday Morning Futures.

"They do know the seriousness of this, and they are working to try to come forward with some announcement before the markets open," he added.