White House economic adviser Brian Deese said Tuesday that while U.S. inflation is hurting Americans in their wallets, at least they’re not facing famine like some other countries.
During the White House press briefing, the National Economic Council director argued that the U.S. is not on the brink of a recession and that the state of the economy, which hit a whopping 9.1% inflation rate in June, could be a lot worse than it is currently.
“I think that our economy is more resilient to the types of challenges that we face,” Deese said. “For example, with respect to food, we’re a net exporter of agricultural commodities. And obviously, the high prices are hitting Americans very hard, but in a way that is different from some places that are facing famine, for example.”
Read more at Fox News
Biden economic advisor AGAIN insists two negative quarters of GDP growth is NOT ‘technical’ definition of recession and claims U.S. is faring better than other countries ‘where there’s famine’
The White House is doubling down on its argument that two quarters of economic decline does not mean a recession as President Joe Biden’s administration braces for tough GDP numbers coming out on Thursday.
National Economic Council Director Brian Deese spent most of Tuesday’s White House press briefing making the case that, while the economy is slowing, it is not in a recession.
He argued the administration’s goal was ‘transitioning from an historically strong recovery into a period of more stable and steady growth.’
— Read more at the Daily Mail