Answering journalists’ questions at the White House, US President Joe Biden said that currently the recession does not threaten the American economy. TASS.
The US unemployment rate remains at the lowest level in the country’s history today, according to the president.
“I don’t think the recession is threatening us. “The unemployment rate remains the lowest in history, around 3.6 percent,” he said.
The American leader also drew attention to the ongoing investment processes in the USA.
“I hope that we will move from this rapid growth to a stable one. And we will see a slight decrease,” Biden summed up.
Former US Treasury Secretary Janet Yellen statedThe current state of the American economy should not be seen as a “recession” but as a necessary “slowdown”. According to him, economic growth in the United States last year reached 5.5 percent, which led to people who lost their jobs due to the coronavirus pandemic returning to work. Yellen noted that the situation certainly “corresponds to the situation”.