White House press secretary Karine Jean-Pierre on Monday will brief reporters aboard Air Force One as they travel with President Biden to San Diego.
While there, Biden will meet with Australian Prime Minister Anthony Albanese and British Prime Minister Rishi Sunak for a meeting of the recently formed nuclear partnership AUKUS, AP reports. The trilateral relationship will allow Australia to obtain nuclear submarines, and establishes a plan for collaboration in building subs.
The trip follows a Monday morning statement from the president to offer reassurance to investors in the wake of the Treasury Department’s Sunday announcement that all depositors in the failed startup lender Silicon Valley Bank (SVB) would be fully compensated.
SVB’s collapse was the biggest bank failure since the 2008 financial crisis, and was followed Sunday by the shuttering of major cryptocurrency lender Signature Bank, whose account holders will likewise receive full coverage. Biden noted that the Federal Deposit Insurance Corporation, which is backstopping the failures, is funded by banks, not taxpayers.
The briefing is scheduled to begin at 1:30 p.m. ET.
Live coverage of the press conference is available above.