- President Biden: A recession in the US is not inevitable
Market news
23 May 2022
President Biden: A recession in the US is not inevitable
A recession in the United States is not inevitable, President Joe Biden said while speaking in Tokyo on Monday.
Additional quotes
US is going through transition that should make us less reliant on fossil fuels.
Release of oil stocks has not been enough to feed demand.
Grain held up in Ukraine has created food shortages.
It is going to take some time to repair economic fallout from Putin’s war.
Want OPEC to raise oil production.
Considering reducing tariffs on China.
Monkeypox does not present the same level of concern as covid.
US has enough vaccine to deal with monkeypox.
Market reaction
The US dollar is licking its wounds near 102.70 vs. its major peers, unfazed by these above comments.
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