I don’t think we will have a recession, if we do, “it will be a very mild recession”

During an interview with CNN that aired on Tuesday’s edition of “CNN Tonight,” President Joe Biden said people shouldn’t prepare for a recession because the people who predict one said so” every six months” and he doesn’t believe there will be. be a recession, but “If it is, it will be a very slight recession, that is, we will go down slightly.” But he does not “anticipate” a slight recession.

Host Jake Tapper asked: “The CEO of JP Morgan Chase [Jamie Dimon] said the United States would likely enter a recession within the next nine months. Bank of America says the United States could start losing 175,000 jobs a month. Gas prices are on the rise again. Should the American people prepare for a recession?

Biden replied, “No. Listen, they say that now how — every six months they say that. Every six months they look at the next six months and say what’s going to happen. It hasn’t happened yet. There is no — there is — there is no guarantee that there will be a — I don’t think there will be a recession. If so, it will be a very mild recession, ie we will pull back slightly. We will – look, think about what happened. We have done more — we are in a better position than any other great country in the world, economically and politically. We still have real problems, but look what we’ve done. We’ve passed so many laws that significantly bring out, you know, for example, the US bailout, legislation to deal with inflation – Inflation [Reduction] Law. We’ve advanced – I mean, so much has been accomplished that the idea that there’s something – that there’s an automatism to recession just isn’t there. They keep going – they’ve been predicting this off and on since the last one –.

Tapper then cut to counter, “But you just said a mild recession is possible.”

Biden replied, “It is possible. Look, it’s possible. I don’t anticipate it. »

Follow Ian Hanchett on Twitter @IanHanchett


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