Biden refutes the inevitability of a recession despite economists’ gloomy forecasts

[libertybele]

I can't believe Yellen's 'infinite wisdom' saying that it's going to take "luck" to control inflation.  At least she and Joe are in agreement. 

Biden refutes the inevitability of a recession despite economists’ gloomy forecasts

President Biden on Monday doubled down on his administration’s mantra that an economic recession isn’t an inevitability despite widespread fears to the contrary.

“There’s nothing inevitable about a recession,” Mr. Biden told reporters Monday during a stroll down the beach in Rehoboth Beach, Delaware.

The comments echo those of Treasury Secretary Janet L. Yellen who acknowledged during an appearance on ABC News’s “This Week” on Sunday that “inflation is unacceptably high,” but said a recession is not a foregone conclusion.

“Clearly, inflation is unacceptably high. It’s President Biden’s top priority to bring it down,” she said.

She also said that while it is “going to take skill and luck” for Federal Reserve Chair Jerome H. Powell to control inflation while buoying the job market, it is possible.

Economists warn that the Federal Reserve’s aggressive moves to control inflation threaten to trigger an economic downturn.............

https://www.washingtontimes.com/news/2022/jun/20/efforts-buoy-economy-take-skill-and-luck-yellen-sa/

[libertybele]

Biden scolds reporter on beach for asking if recession is inevitable

As Americans struggle to keep their heads above water amid inflation-fueled price hikes, a beach-strolling President Biden lashed out at a reporter Monday for daring to ask about the possibility of a US recession.

Asked on the sand near his vacation home in Rehoboth Beach, Del., about economic experts “saying a recession is more likely than ever,” Biden barked: “Not — the majority of them aren’t saying that. Come on, don’t make things up, OK?

“Now you sound like a Republican politician,” the president griped, before realizing how he came off and insisting, “I’m joking. That was a joke.”............

https://nypost.com/2022/06/20/biden-scolds-reporter-on-beach-for-asking-if-recession-is-inevitable/

[LMAO]

Recessions are a normal part of the ups and downs in the economy. What worries me about this one is we have people who believe more regulations and taxes and spending will cure what ails the economy. Reagan believed the opposite