On The Money — Biden tamps down recession fears as Dow plunges

The hill ^ | 06/16/2022 | SYLVAN LANE, ARIS FOLLEY AND KARL EVERS-HILLSTROM -

[ChicagoConservative27]

President Biden is confident in the U.S. economy’s ability to avoid a recession despite a rough week. We’ll also look at another stock market slide, rising mortgage rates and pushback to the White House from the oil industry.

But first, a hush money probe in the WWE.

President Biden is confident in the U.S. economy’s ability to avoid a recession despite a rough week. We’ll also look at another stock market slide, rising mortgage rates and pushback to the White House from the oil industry.

But first, a hush money probe in the WWE.

Welcome to On The Money, your nightly guide to everything affecting your bills, bank account and bottom line. For The Hill, we’re Sylvan Lane, Aris Folley and Karl Evers-Hillstrom. Someone forward you this newsletter? Subscribe here.

Biden says recession ‘not inevitable’ President Biden on Thursday said that a recession is not inevitable in the wake of the Federal Reserve’s decision to raise interest rates at the quickest pace in nearly 30 years.

“First of all, it’s not inevitable,” Biden told The Associated Press in an exclusive interview. “Secondly, we’re in a stronger position than any nation in the world to overcome this inflation.”

[ChicagoConservative27]

Demented POS

[DoughtyOne]

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Just $479.00 dollars to 79%.

[rbg81]

via GIPHY

[Parley Baer]

It took three people to write this trash???

[Luke21]

Three heavily medicated idiots.

[neverevergiveup]

It took three people to write this trash???

Well, they're journalism majors. What do you expect. We're talking the least of the least.

[dsrtsage]

You will own nothing and you will be happy

[SmokingJoe]

Posting your usual Dem propaganda from “The Hill”?
Dementia Joe couldn't “tramp down” sh*t.
Nor can he stop the recession which he created and
which is already here with us, with meaningless, empty talk.

[gunsmithkat]

Well, since Slow Joe is ALWAYS wrong, you know we’re headed for a recession now.

[DaBroasta]

I hear these 3 have been rummaging through Joe’s soiled diapers looking for gold nuggets.

[monkeyshine]

Yeah well, recession is a technical term. It means two or more consecutive quarters of negative growth in GDP. We might “avoid” a recession by merely eking out a tiny gain in the current quarter; and then back to the lackadaisical ~1.5% (average) growth we experienced during the Obama years in the years to come. Nothing anyone would be excited about.

And we might get growth simply due to inflation, and shrinkflation. If growth doesn’t beat inflation that’s a recession in my book even if not technically correct.

[eyedigress]

We are in a recession. If people see growth somewhere it will be in the unemployment line.

Business is failing. Restaurants are closing.

Welcome to the New World Order.

To think 2 years ago the USA was doing pretty damn well for itself.

Enter Potato Joe and his band of Fools.

[Neanderthal]

"President Biden is confident in the U.S. economy’s ability to avoid a recession "

***************************************************

Uh oh

[coloradan]

Gaslighters gonna gaslight. This is The Hill - Deep State gaslight propaganda. Nothing more, nothing less.

[kosciusko51]

There is nothing Biden can say to reduce fears, not even “I’m stepping down as president.”