White House Economic Advisor Bernstein declines to rule out economic recession
President Joe Biden speaks at POET Bioprocessing in Menlo, Iowa, Tuesday, April 12, 2022. (AP Photo/Carolyn Kaster)
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UPDATED 2:00 PM PT – Thursday, May 5, 2022
White House economist Jared Bernstein is declining to dismiss the potential of an economic recession occurring in the near future.
In a recent interview, Bernstein claimed the nation is “well positioned” to avoid a recession, however, he admitted “you can never rule anything out.” The economist denied claims that President Joe Biden is “out of touch” in terms of the economic situation facing many Americans. He said the President is acutely aware of the “extreme discomfort” households are experiencing.
President Biden is completely out of touch with the economic crisis facing Americans.
????81% of Americans are concerned about a recession, according to a CNBC poll.
????94% of Americans are “concerned” or “upset” about inflation, according to a WaPo-ABC poll. https://t.co/V9HLkLXTJ3— House Republicans (@HouseGOP) May 4, 2022
Additionally, Bernstein insisted the Biden administration is working to lower high inflation nationwide. His remarks follow recent polling that indicates Americans are concerned about the direction of the economy under current national leadership.