Following widespread concern about the health of the U.S. banking industry, David Rosenberg, the founder and president of Rosenberg Research, said the current liquidity crunch is markedly different from the 2008 financial crisis.

President Joe Biden evoked memories of John F. Kennedy and the final frontier in an address to Parliament on Friday that promised Canada and the U.S. are better as allies on everything from renewable energy and advanced manufacturing to global migration and the opioids crisis.

Economists told BNNBloomberg.ca that the banking crisis to the south and its influence on the U.S. Fed’s monetary policy plans may give the Bank of Canada more confidence in its decision to hold its key interest rate at 4.5 per cent.

President Joe Biden said he was confident U.S. regional banks were in good shape and didn’t forsee any major crises on the horizon, downplaying Wall Street angst and lingering fears of broader financial turmoil.