President Joe Biden insists that the United States is not slipping into an economic recession, a view that is being pushed strongly by the White House ahead of the soon-to-be-released Q2 GDP numbers.
“We’re not going to be in a recession, in my view,” Biden said in a virtual meeting on the semiconductor bill on July 25. “The unemployment rate is still one of the lowest we’ve had in history. It’s in the 3.6 percent area. We still find ourselves with people investing. My hope is we go from this rapid growth to a steady growth, so we'll see some coming down.”
