(Reuters) – President Joe Biden said a recession is “not inevitable” and he is confident the United States can overcome inflation, the Associated Press reported on Thursday.
“First of all, it’s not inevitable,” Biden told AP in an interview. “Secondly, we’re in a stronger position than any nation in the world to overcome this inflation,” he said.
On Wednesday, the Federal Reserve rolled out its biggest rate hike since 1994 and flagged a slowing economy.
(Reporting by Costas Pitas in Los Angeles; editing by Eric Beech)