Biden says recession ‘not inevitable’ in AP interview

0
5

President Joe Biden said a U.S. recession is “not inevitable” in an interview with the Associated Press. Speaking to the news service in the Oval Office, Biden said the U.S. is “in a stronger position than any nation in the world to overcome this inflation.” Biden spoke a day after the Federal Reserve demonstrated it wanted to be aggressive in its fight against inflation, approving its largest interest-rate hike in almost three decades. On Thursday, meanwhile, U.S. stocks SPX, -3.25% dropped sharply, more than erasing the bounce seen in the previous session following the Fed’s largest rate hike since 1994.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleBond Report: 2- and 10-year Treasury yields extend decline as nervous investors flock to bonds
Next articleDow finishes down over 700 points, falling back below 30,000 level

LEAVE A REPLY

Please enter your comment!
Please enter your name here