Biden says he doesn’t think there will be a recession, if so it will be ‘very slight’

US President Joe Biden arrives to speak at the Volvo Group powertrain manufacturing facility in Hagerstown, Maryland, on Friday, Oct. 7, 2022.

President Joe Biden doesn't believe there will be a recession in the near future and he expects it to be a light dip in the economy.

It's said every six months. In an interview with Jake Tapper on CNN that was aired Tuesday, Biden said that major U.S. banks look down the next six months to see what the future holds.

It wasn't happening yet. It hadn't. There won't be a recession. It will be a very small recession if it is. We are going to move down a bit.

There is a chance of a recession in the next six to nine months.

The U.S. and global economy could be in a recession by the middle of next year, according to an interview with CNBC.

The Federal Reserve is trying to reduce inflation by raising interest rates. The Fed raised interest rates for the third time in a row in September.

Biden told CNN that the chances of a recession were low.

Biden thinks it is possible. I don't know what's going to happen.

The president credited the Inflation Reduction Act with putting the United States in a better position than any other country in the world.