On Monday, President Joe Biden had a senior breakdown while speaking to media in Rehoboth Beach, Delaware, shouting at a reporter who mentioned that a huge number of economists are predicting a recession.
“Not the majority of them aren’t saying that, c’mon, don’t make things up, ok? Now you sound like a Republican politician.”
Biden then added, “I’m joking, that was a joke,” but it wasn’t clear whether Biden was joking about the full phrase or simply the part about you seeming like a Republican politician.
“All kidding aside, I don’t think it is, I was talking to Larry Summers this morning,” Biden said, adding that a recession isn’t inevitable. A recession is anything but inevitable.”
Some in the Biden administration have voiced similar things. For example, National Economic Council Director Brian Deese spoke on CBS’ “Face the Nation” and indicated that America is in the midst of a transition rather than a recession.
On CNN’s State of the Union, Energy Secretary Jennifer Granholm stated that a recession is not inevitable and that the president truly desires a smooth and sustained recovery.
According to Michael Yoshikami of Destination Wealth Management, a minor recession in the United States is a near inevitability in the third quarter as the Federal Reserve undertakes a historic war on inflation.
A number of things, according to Yoshikami, indicate that a recession is on the way, even if it isn’t a particularly severe one.
