Biden says U.S. recession is not inevitable -AP interview

2022.06.17 00:31

U.S. President Joe Biden speaks as he attends the signing into law the Ocean Shipping Reform Act of 2022, which will level the playing field for American exporters and importers, including farmers, and reduce costs for American consumers by lowering the c

(Reuters) – President Joe Biden said a recession is “not inevitable” and he is confident the United States can overcome inflation, the Associated Press reported on Thursday.

“First of all, it’s not inevitable,” Biden told AP in an interview. “Secondly, we’re in a stronger position than any nation in the world to overcome this inflation,” he said.

On Wednesday, the Federal Reserve rolled out its biggest rate hike since 1994 and flagged a slowing economy.

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