- May 23, 2022
- Posted by: Stratford Team
- Category: Economy
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President Biden’s chief economic adviser on Sunday refused to state whether he believes the U.S. is headed into a recession, instead claiming that the American economy is in a “period of transition.”
During a “Fox News Sunday” interview, host Martha MacCallum asked National Economic Council Director Brian Deese to react to assessments by PayPal founding COO David Sacks and a growing list of others suggesting the United States is heading into a recession in the near future.
“Our economy is in a period of transition. We’re moving from the strongest economic recovery in modern history to what can be a period of more stable and resilient growth,” Deese responded, “And while there are absolutely risks with inflation at front and first and foremost, this is what is most important: The United States is positioned better than any other major economy to bring inflation down and address these challenges without…