US President Joe Biden claimed the banking crisis which brought much anxiety to Americans had been finally brought under control, while admitting that the banking stress was not over yet.
“We've done what we need to do executively. I feel confident things are settling out. The markets seem to be responding,” Biden said. He noted that the White House did everything it could to help the US overcome the crisis.
Earlier, US political commentator Fareed Zakaria warned that the US could face a severe economic downturn caused by the weaker US dollar. He noted that for the first time in years, the US dollar was weakening amid a global financial crisis and not strengthening.
