Joe Biden says US recession not inevitable

US President Joe Biden said a recession is “not inevitable” and he is confident the United States can overcome inflation, the Associated Press reported on Thursday.

“First of all, its not inevitable,” Biden told AP in an interview. “Secondly, were in a stronger position than any nation in the world to overcome this inflation,” he said.

On Wednesday, the Federal Reserve rolled out its biggest rate hike since 1994 and flagged a slowing economy.