US President Joe Biden. File photoWASHINGTON, Jun 17 US President Joe Biden said he does not consider a recession in the country inevitable, and expressed confidence that America is the best prepared in the world to fight inflation. To contain prices rising unprecedented over 40 years at a pace, the Federal Reserve raised the key rate the day before by a record 75 basis points since 1994, simultaneously provoking a strong drop in stock indices. «Firstly, this is not inevitable,» Biden answered in an interview with the Associated Press when asked about the recession — a prolonged decline in economic activity in the United States. “Secondly, we are in a stronger position than any country in the world to overcome this inflation,” he added. Biden sees reasons for optimism, in particular, in record low unemployment, which is 3.6% and leaves space for a relatively painless deceleration of the economy in order to reduce inflation. «Be assured, because I am confident that we are better prepared than any other country in the world to dominate the second quarter of the 21st century. This is not hyperbole, this is a fact,» he said Biden.
«The sanctions are being paid.» Inflation in the US and EU is on the rise
