(RoyalPatriot.com )- On Monday, President Joe Biden became agitated with a reporter after she questioned him about the likelihood of an imminent economic downturn.
The President was spotted in the neighborhood of his vacation home in Rehoboth Beach, Delaware, where he has been spending the past few days. On Monday afternoon, he spoke to the media, who were gathered close to the water.
A woman who spoke to Biden but whose identity has not been revealed said that the economists are predicting a recession is even more likely than ever.
Biden countered, saying that isn’t what the bulk of them are saying. Clearly irritated, Biden “made stuff up” while accusing the reporter of making stuff up. “You sound like a Republican politician,” Biden quipped.
The cranky old man tried to smooth it over by saying he was just “joking.”
“But jokes aside, no, I don’t think that’s the case,” he added, referring to a conversation he had with Larry Summers, who had previously served as Secretary of the Treasury, who said that a recession is not inevitable.
Treasury Secretary Janet Yellen expressed a similar point of view.
In an interview on ABC’s This Week with George Stephanopoulos, she stated that she expects the economy to slow since the economy and the labor market have both been growing at a high rate. It is only natural that we anticipate a shift to consistent and steady growth at this point.
Even if the current government of President Joe Biden is optimistic about the economy, some economists believe that a recession will begin next year. Forbes reported that
just a few days after the Federal Reserve announced a significant interest rate increase to control unexpectedly high inflation numbers, the Japanese investment bank Nomura became the latest bank to predict an oncoming recession in the United States economy sometime later this year. This belief joined the likes of Deutsche Bank and Morgan Stanley.
The economists at Nomura noted that inflation is likely to “stay elevated” during the entirety of 2022. Furthermore, they predicted that the economy of the United States is expected to fall by 1 percent the following year, in contrast to an earlier prediction of 1.3 percent growth.
Is Biden “joking,” or is he “the joke”?
