The new date is Jun 22, 2022.
Heather Boushey, an economic adviser to the White House, said on Tuesday that the U.S. economy won't fall into a recession.
The Biden administration has pushed back against the idea of an economic recession.
Speaking at an event hosted by the Washington Post, Boushey said she believes there will not be a scenario that leads to the kind of scarring of American families that we really don't want to see.
The country's low unemployment rate, strong household balance sheets, and resilience in the face of the Pandemic were some of the reasons why she was optimistic.
In an interview on Sunday, President Joe Biden insisted that a recession was not inevitable and urged people to not believe a warning about a downturn.
The president believes the U.S. is in a better position than any other nation to deal with high inflation.
Treasury Secretary Janet Yellen conceded that the economy will slow down, but she didn't think it was inevitable.
Brian Deese, director of the National Economic Council, made a reference to strong job numbers and pushed back against predictions of a downturn in an interview with Fox News.
In the press conference after the rate hike last week, Federal Reserve Chairman Powell denied that the move would cause a recession. Let's make it clear that's the case. We want to achieve 2 percent inflation in line with the labor market. We're attempting to do that.
When asked if a recession is inevitable in an interview on Tuesday, Musk replied that it is. It is more likely than not that it will happen soon. JP Morgan CEO Jamie Dimon and activist investor Carl Icahn are billionaires.
Since last week, when the Federal Reserve raised interest rates for the first time in 28 years, there have been warnings about a recession. An annual inflation figure of 8.6% in May was the highest it had been in four decades. Financial institutions projected a recession after the Fed's decision. There is a 30% chance of a recession over the next 12 months. A day earlier, a Japanese investment bank said there was a chance of amild recession in the last quarter of the year. The Fed's rate hike led to a revised forecast fromDeutsche Bank, which said it now expects an earlier and more severe recession.
Forbes has a list of what billionaires are saying about the next recession.
Another major international bank predicts a recession in the U.S.
Biden says that a recession is not inevitable and that the nation's mood is down.
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