Biden says recession is not inevitable but acknowledges economic pain: 'This is going to be a haul'
CNN
President Joe Biden said Monday he believes a recession in the US is not inevitable but acknowledged the economic pain that Americans are feeling amid high inflation, supply chain shortages and the geopolitical earthquake caused by Russia's invasion of Ukraine.
The President argued the US has made "significant progress" in its recovery from the coronavirus pandemic, which he said has put America in a better position than other countries around the globe struggling with the same issues. But he predicted it would take time to fully recover, saying, "This is going to be a haul. This is going to take some time."
"Our GDP is going to grow faster than China's for the first time in 40 years. Now does that mean we don't have problems? We do. We have problems that the rest of the world has, but less consequential than the rest of the world has because of our internal growth and strength," Biden said at a news conference in Tokyo.
President Joe Biden warned against a streak of “semi-isolationism” in the US as he stressed the importance of alliances during a symbolic visit to the Aisne-Marne American Cemetery on Sunday, honoring the thousands of Americans who died in World War I at a site former President Donald Trump skipped during a 2018 visit to Paris.
Looking to shore up Latino votes in Nevada and Arizona for his reelection campaign, President Joe Biden is on the verge of soon following up last week’s executive action aimed at curbing border crossings with another move focused on providing legal status for long-term undocumented immigrants married to American citizens and without criminal records.