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Biggest bank failures since 2008 prompt reassurance from Biden

President Biden assured Americans that their money was safe after the second and third biggest bank failures in U.S. history. The Federal Deposit Insurance Corporation has stepped in to guarantee all uninsured deposits at Silicon Valley Bank and Signature Bank, but questions remain for the world economy.

Here & Now‘s Scott Tong gets the latest from NPR business correspondent David Gura.

This article was originally published on WBUR.org.

Copyright 2023 NPR. To see more, visit https://www.npr.org.