President Biden states an economic crisis is ‘not inevitable’

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President Biden says a recession is ‘not inevitable’
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President Joe Biden speaks throughout an interview with the Associated Press in the Oval Office of the White House, Thursday, June 16, 2022, in Washington.

Evan Vucci|AP

President Joe Biden informed The Associated Press on Thursday that the American individuals are “really, really down” after a troubled 2 years with the coronavirus pandemic, volatility in the economy and now rising fuel costs that are striking household budget plans.

He stated an economic crisis is not inescapable and bristled at claims by Republican legislators that in 2015’s Covid-19 help strategy was completely to blame for inflation reaching a 40- year high, calling that argument “bizarre.”

As for the total American state of mind, Biden stated, “People are really, really down.”

“They’re really down,” he stated. “The need for mental health in America, it has skyrocketed, because people have seen everything upset. Everything they’ve counted on upset. But most of it’s the consequence of what’s happened, what happened as a consequence of the Covid crisis.”

Speaking to the AP in a 30- minute Oval Office interview, Biden dealt with the cautions by financial experts that the United States might be headed for an economic crisis.

“First of all, it’s not inevitable,” he stated. “Secondly, we’re in a stronger position than any nation in the world to overcome this inflation.”

The president stated he saw factor for optimism with the 3.6% joblessness rate and America’s relative strength on the planet.

“Be confident, because I am confident we’re better positioned than any country in the world to own the second quarter of the 21st century,” Biden stated. “That’s not hyperbole, that’s a fact.”

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