On Tuesday's broadcast of MSNBC's "Chris Jansing Reports," White House National Economic Council Deputy Director Bharat Ramamurti denied that President Joe Biden bears blame for the collapse of Silicon Valley Bank (SVB) because spending by the Biden administration lead to inflation and interest rate hikes that destroyed SVB and argued that if that were true, "you would see many, many banks facing this kind of situation. Instead, what you're seeing is largely an idiosyncratic situation with a handful of banks." He also stated that, thanks to the administration's actions over the weekend, "Americans should feel confident that their deposits in their bank will be there if they need them."