White House Economist Claims ‘Strength’ but Concedes Possibility for Recession

White House economic adviser Jared Bernstein talks to reporters at the White House, in Washington, on Feb. 05, 2021. Chip Somodevilla/Getty Images

A top economist in the Biden administration says he can’t rule out the possibility of a recession in America’s near future, but he adds that the country is in an economic “position of strength.”

The United States is experiencing a 40-year high rate of inflation coupled with a GDP that shrank 1.4 percent in the first quarter. And some economists have predicted a national recession possibly next year.