Biden Says Deposits Are Safe, US Banks in ‘Pretty Good Shape’

U.S. President Joe Biden speaks during a joint press conference with Canadian Prime Minister Justin Trudeau at the Sir John A. Macdonald Building in Ottawa, Canada, on March 24, 2023. Andrej Ivanov/AFP via Getty Images

OTTAWA, Canada—U.S. President Joe Biden on March 24 praised his administration’s management of the recent banking crisis, saying the banks are in good shape but that it will take some time for markets to settle down.

“I think we’ve done a pretty ... good job,“ Biden said during a press conference in Ottawa. ”People’s savings are secure.”