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President Biden says a recession is ‘not inevitable’

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President Joe Biden speaks during an interview with the Associated Press within the Oval Office of the White House, Thursday, June 16, 2022, in Washington.

Evan Vucci | AP

President Joe Biden told The Associated Press on Thursday that the American individuals are “really, really down” after a tumultuous two years with the coronavirus pandemic, volatility within the economy and now surging gasoline prices which might be hitting family budgets.

He said a recession will not be inevitable and bristled at claims by Republican lawmakers that last 12 months’s Covid-19 aid plan was fully in charge for inflation reaching a 40-year high, calling that argument “bizarre.”

As for the general American mindset, Biden said, “Individuals are really, really down.”

“They’re really down,” he said. “The necessity for mental health in America, it has skyrocketed, because people have seen every little thing upset. Every thing they’ve counted on upset. But most of it is the consequence of what is happened, what happened as a consequence of the Covid crisis.”

Chatting with the AP in a 30-minute Oval Office interview, Biden addressed the warnings by economists that america may very well be headed for a recession.

“To begin with, it isn’t inevitable,” he said. “Secondly, we’re in a stronger position than any nation on the planet to beat this inflation.”

The president said he saw reason for optimism with the three.6% unemployment rate and America’s relative strength on the planet.

“Be confident, because I’m confident we’re higher positioned than any country on the planet to own the second quarter of the twenty first century,” Biden said. “That is not hyperbole, that is a fact.”

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