“We’re not going to be in a recession. My hope is we go from this rapid growth to a steady growth,” President Biden said.
for the current fiscal year quarter. “The labor market will matter a lot for the outlook of the U.S. consumer and their confidence to continue spending in the coming quarters. So from that, I think the doom and gloom on recession is a little bit exaggerated at the moment.”
“I think the U.S. is actually in better shape than, for example, Europe.” he says. Dependence on Russian energy, in particular, could pose a problem for countries like France and Germany in the coming months. “If the world slips into recession, perhaps the last country to slip into it will be the United States,” Furman surmised.Globally, a recession looks inevitable.
“Those risks in the global context are real,” Deese said Tuesday when asked by Yahoo News about the IMF assessment. “And, certainly, we are attentive to those risks internationally and the impact they have on the U.S. economy.” Tackling inflation will require the Federal Reserve to keep raising interest rates, as it is expected to do on Wednesdayby the start of 2023. “Inflation is like a cancer cell in the economy,” says former Trump economist Moore. “They should’ve taken care of this six months ago.”
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