Biden says the recession is “not inevitable” in an interview with the AP

Said President Joe Biden A US recession is “not inevitable” In an interview with the Associated Press. Speaking to the Oval Office of the News Service, Biden said the United States “is in a stronger position than any country in the world to overcome this inflation.” Has approved its largest interest rate hike in nearly three decades. On Thursday, meanwhile, US stocks
SPX,
-3.25%
Dropped sharplyMore than erasing the bounce seen in the previous session following the Fed’s largest interest rate hike since 1994.