President Biden believes a strong job market will protect the US economy
In addition to the war in Ukraine, high gasoline prices, splintered supply chains, the pandemic and rising interest rates that slow growth, the economy in the America faces plenty of threats: High grocery bills, high gasoline prices, low supply chains, the pandemic, and rising interest rates. There have been reports that Wall Street analysts are concerned that there could be an imminent recession, although the White House under Biden believes the economy can withstand these threats.
According to Brian Deese, director of the White House National Economic Council, US employment is among the best in the world thanks to a 3.6% unemployment rate and robust growth last year.
In the coming months, we'll see whether President Joe Biden's $1.9 trillion relief package led to a healthy recovery full of jobs, or whether an economy stuffed with government aid falls into recession. Before the midterm elections, the Democratic party must demonstrate to voters that it is capable of managing an economy that is growing rapidly without overheating and bringing inflation to a moderate level.
8 April 2022