President Biden says that the prospect of a “slight recession” is possible but that he doesn’t anticipate it – even as experts are sounding the alarm about the future of the American and global economies.
President Joe Biden told CNN’s Jake Tapper on Tuesday that the prospect of a “slight recession” is possible but that he doesn’t anticipate it – even as experts are sounding the alarm about the future of the American and global economies. “I don’t think there will be a recession. If it is, it will be a very slight recession. That is we’ll move down slightly,” Biden told Tapper in his first exclusive interview with CNN since taking office, adding later, “It is possible. Look, it’s possible.
” All of the world’s largest economies are slowing, IMF managing director Kristalina Georgieva said last week, noting the energy crisis in Europe amid Russia’s war in Ukraine, China’s real estate collapse, and historically high inflation in the United States. The President suggested on Tuesday that the United States’ ability so far to thwart a recession despite forecasts that raised broad concern give him some confidence in the future of the economy.
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