President Biden says recession is 'not inevitable' and he is confident US can overcome inflation as Federal Reserve rolls out its biggest rate hike since 1994
Reacting to economists' warnings US economy is heading into a recession, President Biden says"it's not inevitable," underlining America is in"stronger position" than any other country in the world.
President Joe Biden has said a recession "is not inevitable" and the American people are "really, really down" after a tumultuous two years with the coronavirus pandemic, volatility in the economy and now surging gasoline prices that are hitting family budgets. The president said he saw the reason for optimism with the 3.6 percent unemployment rate and America’s relative strength in the world.
"I'm the president of the United States," he said. "It's what’s best in the country. No kidding. No kidding. So what happens? What happens if the strongest power in NATO, the organisational structure we put together, walked away from Russian aggression?"
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