On this “Face the Nation” broadcast, moderated by Margaret Brennan:
- Treasury Secretary Janet Yellen
- Rep. Ro Khanna, Democrat of California
- Rep. Michael McCaul, Republican of Texas
- Christopher Krebs, cybersecurity expert and analyst
- New Jersey Gov. Phil Murphy
Click here to browse full transcripts of “Face the Nation.”
MARGARET BRENNAN: I’m Margaret Brennan in Washington.
And this week on Face the Nation: America’s economy got a jolt late last week. We will speak exclusively with Treasury Secretary Janet Yellen about how the government can head off a potential crisis we haven’t seen since 2008.
Shockwaves are expected to hit when the global markets open following Friday’s collapse of Silicon Valley Bank, the biggest U.S. bank to fail in 15 years. What were the missed signals about the bank’s stability? And how could SVB’s failure impact the jobs and inflation outlook in the U.S.?
President Biden was upbeat Friday morning following an unemployment report that showed strong job gains.
(Begin VT)
JOE BIDEN (President of the United States): It’s not just good numbers. People can feel it.
(End VT)
MARGARET BRENNAN: But his administration has been hunkered down since then dealing with what could be a setback to economic progress.
We will ask Secretary Yellen what the administration plans to do to contain the fallout.
Plus, Democratic Congressman Ro Khanna represents the California district that’s home to SVB. We will ask him about the impact on the tech sector, America’s hub for innovation.
House Foreign Affairs Committee Chairman Michael McCaul will also be with us, as well as New Jersey’s Democratic Governor Phil Murphy.
And, finally, we will take a look at the power of women in the face of adversity as they fight to overcome new roadblocks to gender equality.
It’s all just ahead on Face the Nation.
Good morning, and welcome to Face the Nation.
Government regulators have been working through the weekend to contain the spillover from the collapse of Silicon Valley Bank. But reverberations have already been felt overseas from Europe to Israel.
Back home, the concern is especially acute in America’s technology sector. President Biden spoke last night about the government’s response to SVB’s failure with California’s Governor Gavin Newsom, who has emphasized the need to protect America’s innovation ecosystem. The turbulence comes at a complicated moment for the U.S. economy.
CBS…
Click Here to Read the Full Original Article at Home – CBSNews.com…