Biden Says ‘No Surprise’ GDP Slowing, Urges Congress to Act on Energy, Taxes
- Republicans blast Biden over economy heading into midterms
- Powell, top economists don’t see US in recession, Biden says
Joe Biden
Photographer: Samuel Corum/BloombergThis article is for subscribers only.
President Joe Biden touted low unemployment, job creation and foreign investment as signs the US isn’t in a recession following disappointing economic data -- and urged Congress to pass legislation he said would counteract soaring inflation.
Federal Reserve Chairman Jerome Powell “and many of the significant banking personnel and economists say we’re not in a recession,” Biden told reporters at the White House Thursday before ticking off the data points he said showed the strength of the US economy. He added: “That doesn’t sound like a recession to me.”