: White House economist says she has faith in banking regulators as Silicon Valley Bank fails


A top White House economist said Friday that she had confidence in the banking system and its regulators, when she was asked about Silicon Valley Bank’s SIVB, -60.41% failure. “Our banking system is in a fundamentally different place than it was a decade ago,” Cecilia Rouse, who chairs President Joe Biden’s Council of Economic Advisers, told reporters during a White House press briefing. She said reforms that “were put into place back then really provide the kind of resilience that we’d like to see, so we have every faith in our regulators.”

This article was originally published by Marketwatch.com. Read the original article here.

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