On Monday, while holding a press conference with Japanese Prime Minister Jumio Kishida, Biden claimed that an American recession is not “inevitable.”
Biden’s comments were in response to a reporter’s question.
The reporter asked, “Given the cross-currents of the economy right now — the war in Ukraine, the China lockdowns that we’ve seen — should Americans be prepared for a recession? In your view, is a recession in the United States inevitable?”
“No,” Biden said.
Biden went on to say, “Here’s the situation. And when it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over.”
Worries of recession have been boiling over in America, as gas prices continue to surge across the country.
Biden claimed his administration is taking action to keep gas prices from “getting even worse.”
Biden said, “The price of gas at the pump is something that I told you — you heard me say before — it would be a matter of great discussion at my kitchen table when I was a kid growing up. It’s affecting a lot of families. But we have released over two hundred and, I think, fifty-seven thousand — million barrels of oil, I should say. Us and the rest of the world we convinced to get involved. It’s helped, but it’s not been enough.”
Biden then blamed food shortages on the war with Ukraine. He said, “We also find ourselves in a situation where we have food shortages — food shortages because of Ukraine. There are over — there are literally millions of bushels of oil — I mean, excuse me, of grain being held up in Ukraine that would fundamentally impact positively on the market in terms of bringing down food prices across the board.”