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Economics

Biden’s ‘Never Been More Optimistic’ Despite Troubled US Economy

  • President speaks to union members as Fed mulls rate hike
  • Cost-of-living crisis has tipped US equities into bear market
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Biden Calls Inflation ‘Bane of Our Existence’

President Joe Biden sought to portray Republicans as a threat to voters’ health care and pensions, while insisting the country’s economic prospects are strong despite signals a recession may loom.

“I truly believe we made extraordinary progress by laying a new foundation for our economy, which becomes clear once global inflation begins to recede,” Biden said Tuesday at a meeting of the AFL-CIO, the biggest US labor confederation, in Philadelphia.