Fox News star Kayleigh McEnany has put Democrat President Joe Biden in his place over the escalating banking crisis.
McEnany fired back after the Democrats’ allies in the corporate media tried to push a narrative that Biden “saved the day” in the Silicon Valley Bank (SVB) collapse.
The collapse has spread as concerns mount that more banks will follow SVB and Signature Bank.
McEnany shared a clip from her discussing the situation on her hit show “Outnumbered” on social media with the caption: “The White House wants the narrative to be ‘Biden saved the day,’ but the actual headline should be ‘Biden caused the crisis!’”
On her show, McEnany said: “The monetary policy in the decisions of the federal government cannot be understated.
“They can point all day at SVB and say look, there were bad actors there, but they have four fingers pointing back at them because they are involved in this.
“Biden, we saw him try to divert blame to the last administration, the Wall Street Journal took that apart and said this still would have happened, absent that 2018 bipartisan law that was passed.
“We’ve got to ask the question, ‘How did we get here?’
“We go from crisis to crisis.
“They want the narrative to be ‘Biden saved the day,’ but the real narrative is ‘Biden caused this, and but for the president of the United States, we would not be here.”
The White House wants the narrative to be “Biden saved the day,” but the actual headline should be “Biden caused the crisis!” via @OutnumberedFNC @FoxNews pic.twitter.com/5yT6MeT17q
— Kayleigh McEnany (@kayleighmcenany) March 14, 2023
According to CNBC:
Goldman Sachs on Wednesday lowered its 2023 economic growth forecast, citing a pullback in lending from small- and medium-sized banks amid turmoil in the broader financial system.
The firm lowered its growth forecast by 0.3 percentage points to 1.2% under expectations that smaller banks will attempt to preserve liquidity in case they need to meet depositor withdrawals, leading to a substantial tightening in bank lending standards.
Tighter lending standards could weigh on aggregate demand, implying a drag on GDP growth already affected by tightening in recent quarters, Goldman economists David Mericle and Manuel Abecasis wrote in a note to clients.
“Small and medium-sized banks play an important role in the US economy,” the analysts wrote.
“Any lending impact is likely to be concentrated in a subset of small and medium-sized banks.”
READ MORE: Biden and Schumer Took Cash from Silicon Valley Bank Affiliates before Collapse