‘It’s going to be a race,’ says US president
‘It’s going to be a race,’ says US president
United States President Joe Biden said he does not believe an economic slowdown is inevitable in the US, despite record high inflation and supply shortages, partly caused by Russia’s invasion of Ukraine.
Speaking at a news conference in Tokyo on Monday, President Biden acknowledged that the US economy has “problems” but said it is in a better position than other countries.
“We have problems that are in the rest of the world, but less consequential than in the rest of the world,” President Biden said. President Biden acknowledged the impact of severe supply shortages and high energy prices on American households. He said his administration was working to ease the pain of American consumers, but added that there was unlikely to be an immediate solution.
“It’s going to be a race,” President Biden said. “It’s going to take some time.”