Doocy: Russia and China Are Teaming Up. 'Why Did President Biden Let This Happen?' Do Putin and Xi Fear Him? Kirby: 'It Is Not About Fear' (March 20, 2023)

As Chinese leader Xi Jinping met Vladimir Putin in Moscow, Fox News’ Peter Doocy put the question to the White House. “John, Russia and China — it seems like this — these two superpowers are teaming up now against the U.S. Why did President Biden let this happen?” Doocy asked National Security Council spokesman John Kirby at the briefing on March 20, 2023, according to the official White House transcript [1].

“Peter, these are two countries that have long chafed, as I said to Jeff — long chafed at U.S. leadership around the world and — and the network of alliances and partnerships that we have. This is not — this is not something that these two countries just cooked up since President Biden got elected,” Kirby answered [1].

The video above shows the exchanges at the March 20, 2023, briefing. Quotes are from the official White House transcript, the Federal Reserve and the FDIC [1][2][3].

”Do You Think That Putin and Xi Fear President Biden?”

Doocy kept going. “Since he’s been President, he has talked tough. He tried to pressure Putin and Xi to act right or risk their standing on the world stage. Does he see now that they don’t care?” [1]

“I think if you ask a lot of Russians, they certainly care. I mean, this — their economy is — is barely being propped up by some pretty radical measures by — by Mr. Putin,” Kirby said [1].

“Specific to these two leaders, though, do you think that Putin and Xi fear President Biden?” Doocy asked. “You’d have to ask them whether they fear or they not,” Kirby said [1].

“Should they?” Doocy asked. “It is not about fear. It’s about President Biden advancing our foreign policy goals around the world,” Kirby answered [1].

”We’re Not Doing This”

The briefing had opened in chaos. A reporter began protesting before Press Secretary Karine Jean-Pierre could start. “I would like to request that you call on everyone from across the room. You’ve been discriminating against me and discriminating against some people in the briefing room,” the reporter said [1].

“No, no, no, no. Nope. That’s not — we’re not doing this. We’re not doing this,” Jean-Pierre said [1].

“What you are doing, you are making a mockery of the First Amendment,” the reporter said. “It’s been seven months. You’ve not called on me.” [1]

“Coach Lasso”

The cast of the TV show “Ted Lasso” was in the room. “It is an honor — it is truly an honor to have Coach Lasso here with us today,” Jean-Pierre said, introducing actor Jason Sudeikis, who was there to talk about mental health [1].

“Yeah, I didn’t — I truly did not know it was going to be this when — on the way here — (laughter) — until we were out here,” Sudeikis said [1].

”Banks Getting Bailouts”

Later in the briefing, a reporter asked about the bank rescues. “Is the President worried or is the White House worried about the politics of this, in terms of banks getting bailouts and average Americans, so to say, not?” [1]

“No taxpayers’ money is being used or put at risk in — with these actions that have been taken over the last 10 days or so. And our banking system remains sound,” Jean-Pierre said [1].

A reporter asked about Sen. Elizabeth Warren’s call for the Federal Reserve to stop raising rates. “What’s the President’s level of concern that another rate increase this week could further weaken the banking industry and potentially threaten some of these smaller and mid-size banks?” [1]

“As it relates to the Federal Reserve, we’ve been very clear: They are independent,” Jean-Pierre said. “But I’m just not going to — we’re not going to comment on that from here.” [1]

“Does the President view Jerome Powell’s stewardship of these events as at all a risk to his position as Chairman of the Federal Reserve?” another reporter asked. “No, not at all. The President has confidence in Jerome Powell,” Jean-Pierre said [1].

”Something for the FDIC to Speak To”

“Shares of First Republic Bank have declined in recent days. Is the administration considering further steps to support that bank?” a reporter asked [1].

“So, look, that’s something for the FDIC to speak to. I’m not just — I’m not going to comment on any hypotheticals from here,” Jean-Pierre said [1].

By the Numbers

7: months without being called on, the protesting reporter said [1].
About 10 days: of bank rescue actions, per Jean-Pierre [1].
4-3/4 to 5 percent: the Fed’s new rate range two days later [2].
$13 billion: the FDIC’s estimated cost of First Republic’s failure [3].

What Happened Next

The Fed raised rates again. Two days later, on March 22, 2023, the Federal Reserve’s rate-setting committee “decided to raise the target range for the federal funds rate to 4-3/4 to 5 percent,” its statement said. “Inflation remains elevated.” [2]

First Republic failed. On May 1, 2023, the FDIC announced: “First Republic Bank, San Francisco, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.” [3]

“The FDIC estimates that the cost to the Deposit Insurance Fund will be about $13 billion,” the agency said [3].

For Kirby pressed by Doocy on the lab leak the next day, see HYGO News’ page on March 21, 2023. For Biden on China’s spy balloon three months later, see the page on June 17, 2023.