During Wednesday’s press briefing, White House Press Secretary Karine Jean-Pierre said that the Biden administration believes that the United States has a “strong economy” and that it is not about to enter a recession. The Biden administration’s beliefs come in conflict with economic experts who believe the United States will enter a recession this year.
Jean-Pierre’s comments came in response to a reporter asking about President Biden’s views on Federal Reserve Chairman Jerome Powell and his efforts to reduce inflation.
“We understand what the American people are feeling, that is why we have made it a priority to do everything that we can to lower costs for Americans,” Jean-Pierre said.
“We do not see a recession or pre-recession. We see a strong economy and it’s because of the work that this president has done,” she added.
Notably, according to an analysis from the nonpartisan Conference Board, U.S. “economic weakness will intensify and spread more widely throughout the US economy over the coming months, leading to a recession starting in mid-2023.”
The analysis found that “the US economy will slip into recession in 2023 and expect GDP growth to contract for three consecutive quarters starting in Q2 2023.”
WH press sec: “We do not see a recession or pre-recession. We see a strong economy and it’s because of the work that this president has done.” pic.twitter.com/ulBLiAcYRQ
— The Post Millennial (@TPostMillennial) March 22, 2023
The post Biden Administration Disagrees With Economists, Says U.S. Not Seeing ‘A Recession Or Pre-Recession’ appeared first on Real Raw News.
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Author: Michael Baxter
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