US President Joe Biden assessed the likelihood of a recession in the country. Although he thinks it is possible, he does not believe there will be a recession in the near future.
Rumors abound that the world's largest economy has been facing serious problems lately. Moreover, some Americans have been awaiting the recession for many years. Nevertheless, these expectations are unrealistic so far. Currently, many different fundamental factors have been indicating that the US is headed for a recession. However, both investors and the US government seem to deny this fact.
“I don’t think there will be a recession. If it is, it’ll be a very slight recession. That is, we'll move down slightly,” US President Joe Biden said.
The president noted that though he believed the US might enter a recession, he did not anticipate it. Nevertheless, some top economists do not share his optimism. JPMorgan Chase CEO Jamie Dimon stated that a recession in the US was probable by mid-2023. He said that the US economy was “actually still doing well” at present and consumers were likely to be in better shape compared with the 2008 global financial crisis. At the same time, Dimon added that the chances of surviving a recession were quite high.
