AgenciesDespite fulfilling the traditional criteria of two consecutive quarters of decline, US President Joe Biden denied the economy is in a recession but admitted in an interview that a dip might occur. President Joe Biden believes that there will be no recession. If that happens, it will be a minor recession, the President said.
The US GDP fell by a percentage of 0.9 in 2022 second quarter after falling by a percentage of 1.6 in the first quarter. The Joe Biden aides say that the US is not in a recession due to historically low unemployment and a lack of spectacular company troubles.
Despite the economic uncertainties, Joe Biden, who turns 80 next month, told Tapper that he is still thinking about running for President – something he has repeatedly told allies he intends to do. Biden stated that he would decide on the November 8 midterm elections.
When asked if one of his calculations suggested he was the only one capable of defeating Donald Trump, Biden said he believed he could defeat Donald Trump again.
Fears of a recession have intensified as the Federal Reserve rapidly raises interest rates to combat the highest inflation since 1981. Despite decreasing gasoline costs, annual inflation reached 9.1 per cent in June and 8.3 per cent in August – and gas prices are rising again as OPEC+ cuts output. Joe Biden's forecasting of economic trends has altered.
Who is Joe Biden?
Joe Biden is an American politician currently serving as the 46th President of the United States.
When did Biden defeat Trump in the US presidential election?
Joe Biden defeats Donald Trump in the 2020 US presidential election.
The US GDP fell by a percentage of 0.9 in 2022 second quarter after falling by a percentage of 1.6 in the first quarter. The Joe Biden aides say that the US is not in a recession due to historically low unemployment and a lack of spectacular company troubles.
Despite the economic uncertainties, Joe Biden, who turns 80 next month, told Tapper that he is still thinking about running for President – something he has repeatedly told allies he intends to do. Biden stated that he would decide on the November 8 midterm elections.
When asked if one of his calculations suggested he was the only one capable of defeating Donald Trump, Biden said he believed he could defeat Donald Trump again.
Fears of a recession have intensified as the Federal Reserve rapidly raises interest rates to combat the highest inflation since 1981. Despite decreasing gasoline costs, annual inflation reached 9.1 per cent in June and 8.3 per cent in August – and gas prices are rising again as OPEC+ cuts output. Joe Biden's forecasting of economic trends has altered.
FAQ
Who is Joe Biden?
Joe Biden is an American politician currently serving as the 46th President of the United States.
When did Biden defeat Trump in the US presidential election?
Joe Biden defeats Donald Trump in the 2020 US presidential election.
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