President Biden Dismisses Recession Fears


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JPMorgan Chase Chief Executive Jamie Dimon predicts that the American economy will tip into a recession next year. And according to IMF leaders, a severe recession is on the horizon in the next three to nine months. But, during an interview on CNN, President Biden downplayed talks of a potential recession.

“I don’t think there will be a recession. If it is, it’ll be a very slight recession. That is, we’ll move down slightly,” the president said.

President Biden also touted his administration’s legislative accomplishments, such as the recently signed Inflation Reduction Act.

“I mean, there’s so much that’s been accomplished that the idea that there’s something — there’s an automaticity to recession is just not — is just not there.”

Inflation, meantime, remains near its highest level in four decades, though gas costs and other prices have eased in recent weeks. (AP Photo/Elise Amendola, File)

Also, during that interview with Jake Tapper, the president said he would decide whether or not to run for president again after the midterms in November. And while Donald Trump has not made a formal announcement about running for president, President Biden says he’s confident of his chances in a rematch of the 2020 presidential election.

“I believe I can beat Donald Trump again.”

Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.

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