Biden: SVB deposits and banking system “safe”

<p>President Biden, in remarks delivered Monday morning, said that the U.S. banking system is &#8220;safe&#8221; and that depositors at the failed Silicon Valley and Signature banks would have full access to their deposits. The president&#8217;s messaging comes amid a wider campaign by federal officials to tame potential panic over this weekend&#8217;s banking debacle, according to Marketplace&#8217;s Sabri Ben-Achour. And, we got in touch with economist Julia Coronado to discuss how higher interest rates — which have come after a sustained period of near-zero rates — could have contributed to the crisis.</p>