Speaking on the Silicon Valley Bank (SVB) Failure, Cecilia Rouse, who chairs the Council of Economic Adviser on Friday said, "We have every faith in our regulators."

The Statement from Rouse came while she was addressing the press conference at the White House, where she said, "Secretary of the Treasury, Secretary Yellen, is closely tracking the developments on the Silicon Valley Bank (SVB), and is in conversation with regulators, including the Federal Reserve and the Office of the Comptroller."

She further stressed that the current banking system is fundamentally strong since after the 2008 global financial crisis.

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