President Joe Biden’s handling of the national economy “contributed” to the failures of Silicon Valley Bank (SVB) and Signature Bank, Sen. Tim Scott (R-S.C.) said in remarks in front of Treasury Secretary Janet Yellen.
Senate Republicans tied elevated inflation and rising interest rates to the latest string of bank failures during Secretary Yellen’s hearing in front of the Senate Finance Committee on Thursday.
“Biden’s handling of the economy contributed to these bank failures,” Scott stated. “The president’s budget is further evidence of reckless tax and spending that will only exacerbate the highest inflation we’ve seen in 40 years.”…