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Biden Says US Recession Avoidable After Call With Ex-Treasury Secretary Summers

  • Changing Medicare, cutting insulin costs on the table, he says
  • White House, Democrats in talks on inflation-fighting laws
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WATCH: Biden reiterated that a US recession isn’t “inevitable” following a conversation with Lawrence Summers. Source: Bloomberg

President Joe Biden reiterated that a US recession isn’t “inevitable” following a conversation with former Treasury Secretary Lawrence Summers, who sees a significant chance the country will find itself battling stagflation. 

“I was talking to Larry Summers this morning, and there’s nothing inevitable about a recession,” Biden told reporters Monday at Rehoboth Beach, Delaware. “I think we’re going to be able to get a change in Medicare and a reduction in the cost of insulin.”