Biden sees economy avoiding recession, but risks remain
The Associated Press
WASHINGTON (AP) – President Joe Biden is assuring the nation that the U.S. economy is chugging along.
But along with his upbeat words on Friday, a new jobs report showed that high inflation remains a threat.
At the White House, the president signed a bill to avoid a rail strike that he said could have caused 765,000 job losses in two weeks and plunged the country into recession.
But many voters and economists already fear that a downturn is nigh and that the price of reducing inflation will be layoffs.
Biden pointed to the addition of 263,000 jobs and the unemployment rate holding steady at 3.7% last month as proof that his policies have bulked up the economy.
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12/2/2022 1:18:39 PM (GMT -6:00)