President Joe Biden said the recession was not “inevitable” and said he was confident the United States could overcome the difficult environment created by high inflation, in an interview with the Associated Press.
“First of all, the economic downturn is not inevitable,” Biden said.
On Wednesday, the US Federal Reserve raised interest rates for the largest time since 1994 and spoke of a slowdown in the economy.
A recession is “not inevitable,” President Biden tells the AP in an exclusive interview. Biden acknowledged Americans’ frustrations after a tumultuous two years of COVID and volatility in the economy, saying, “People are really, really down.” https://t.co/zo1Ntf77BM
– The Associated Press (@AP) June 16, 2022
The US president also rejected Republicans’ claims that last year’s aid package to COVID-19 was solely responsible for inflation, calling the argument “strange”.
Commenting on the general psychology of Americans, Biden said: “People are really very down.”
“The need for mental health care in America has skyrocketed, because people have seen everything turn upside down. Everything they expected has been overturned. For the most part, it’s a consequence of what happened, a consequence of the COVID crisis.”
Source: Capital
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