Biden Touts Economic Recovery, But Major Concerns Linger
Voice of America
21 Jul 2021, 08:35 GMT+10
WASHINGTON - President Joe Biden on Monday took a swipe at political opponents, including former President Donald Trump, by touting the reinvigorated U.S. economy, which has been recovering rapidly during his first six months in office.
But some economists worry that the administration s aggressive efforts to spur economic growth could lead to a punishing recession next year.
Speaking at the White House on Monday morning, Biden reminded listeners of the predictions of economic disaster that his detractors had insisted would follow his election as president.
Without naming him, Biden referred to his predecessor by quoting his prediction that if Biden became president, the country would experience a depression the likes of which we have never seen.
ממשלות בכל העולם נכנסות לחובות ובודקות עד לאן ניתן למתוח את הקו
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Washington | President Joe Biden on Monday (Tuesday AEST) sought to soothe fears that rising inflation could hurt the US recovery and undermine his $US3.5 trillion ($4.7 trillion) spending plans, saying the administration would remain vigilant about rising prices and he expected the Federal Reserve to take action if needed.
Inflation hit 5.4 per cent in the US in June, rising at the fastest pace in 13 years. The speed and size of the consumer price rises have surprised economists and raised concerns that inflation could be higher for longer and act as a tax on consumers.
US President Joe Biden says no serious economist thinks inflation could run away.