Biden says quot slight recession quot possible quot but I don t anticipate it quot
Biden says slight recession possible but I don' t anticipate it
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Biden says slight recession possible but I don' t anticipate it
President Biden being interviewed on CNN. Screenshot: CNN said during a CNN interview broadcast Tuesday night "a very slight recession" is possible for the U.S., but he doesn't think it will happen. Why it matters: With fewer than 30 days until the , Biden and the Democrats have a shrinking window of time to assure Americans that the economy remains healthy. Driving the news: In , CNN's Jake Tapper asked Biden: "Should the American people prepare for a recession?"Biden initially responded with a firm "no," but he later clarified: "I don't think there will be a recession. If it is, it will be a slight recession — that is, we'll move down slightly."He added that while a slight recession was possible, "I don't anticipate it." The big picture: Biden has consistently said he doesn't expect a recession, even when analysts have warned of a downturn. He in June a recession was "not inevitable" while still talking up the economy. A month later, , "We're not going to be in a recession" — citing the low unemployment rate.Since then, the Federal Reserve and other major central banks have in order to tackling surging inflation. Of note: J.P. Morgan Chase CEO Jamie this week the current global economic climate was "likely to put the U.S. in some kind of recession six to nine months from now." Threat level: Close to half (47%) of voters favor Republicans when it comes to the handling the economy, an last month found.That represents a 19-point advantage over Democrats, favored by 28% of voters. What to watch: Biden's comments come ahead of the Department of Labor’s release Thursday of the latest , as well as the start of corporate earnings season — which may reveal how optimistic or pessimistic companies feel about consumers and the economy.
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Biden says quot slight recession quot possible quot but I don t anticipate it quot | Trend Now | Trend Now