The Gunners head to the Madejski Stadium on Monday reeling from their Capital One Cup quarter-final defeat by League Two Bradford, a moment that has been described as the lowest point of Arsene Wenger's 16-year reign.
It has been a difficult season for Wenger, who now finds himself in the unprecedented position of being the third favourite to become the next Premier League manager to lose his job.
But McDermott, who leads the sack race at 7/4, believes Arsenal remain in safe hands with the Frenchman in charge.
"Arsene has been there for a long time and it is a stable club. I don't look at a situation in football as being a crisis," he said.
"Arsenal are a massive club and well run financially. They are a terrific institution. I can't see them being in crisis.
"They generally come good at the back end of the season. They always make the Champions League and I wouldn't back against them finishing in the top four.
"Arsene himself is always being asked why they haven't won a trophy for seven years.
"I am sure he is fed up with it and I understand the fans' frustrations. But Arsene will want to win trophies more than anyone."
Victory on Monday is essential for both teams with Reading seeking to begin their climb out of the relegation zone following five successive defeats.
Four of those were on the road, however, and with three of the next four being staged at home, McDermott knows his team are entering a critical period.
"At one point last season we had five defeats and we're determined to turn it around," he said.
"We want to get out on the pitch and perform again. We just need a result for it to change.
"We're playing at home which is massively important for us. We have home games coming up which is important because the Madejski will be integral to where we end up."
Reading are desperate to atone for their worst defeat of the season yet, a 3-0 loss at Sunderland last Tuesday that has cranked up the pressure on McDermott.
"There's no doubt we were short the other night, but before that we have been so close to getting over the line," McDermott said.
"I had a text from someone who said, 'You've had no luck whatsoever', so that's got to change. We'll just keep doing what we're doing.
"But the only thing anyone is interested in is results, and I know that."
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