On 6/19/2022, Biden tells reporter he won’t answer her question while he’s on his weekly vacation. Biden says “we are in the process of making up my mind on whether to lift tariffs on china. NBC panel compares Biden to Jimmy carter, notes how Biden’s staff is “overly protective”.
On 6/19/2022, CNN’s State of the Union, Energy Secretary Jennifer Granholm said oh, for sure Biden is really focused on inflation. BASH asked, “So, the former Treasury Secretary Larry Summers, he said to me on the show last week that there is certainly a risk of a recession in the next year. Are you and the Biden administration taking preventative steps in case that happens?”
GRANHOLM: Oh, for sure. I mean, the president is really focused on preventing these inflationary increases, to the extent he can. Inflation, obviously, is happening globally. A recession is not inevitable. The president really wants to have a steady and stable recovery. But, of course, one of the biggest pieces of these inflationary increases that we’re seeing is the price of fuel.
BASH: And, if that doesn’t happen, those preventative steps that you’re trying to take, are there proactive steps that you can take if the recession actually happens?
GRANHOLM: Well, what we’re trying to do, in my column, right, we really want to make sure that we can increase supply, because, right now, we have a huge mismatch between demand for fuel, for gasoline, and supply of it. And so we are doing a whole series of things, including, this week, I will be meeting with the CEOs of oil and gas companies, because we have a — globally a refinery challenge…
Granholm also says Biden will meet with the Saudi crown prince two days after Biden said he wouldn’t. BASH asked, “President Biden will visit Saudi Arabia next month to talk about this. On Friday, he said — quote — “I’m not going to meet with Crown Prince Mohammed bin Salman. I’m going to an international meeting, and he’s going to be part of it.” Can you clarify this? Is he going to meet with the Saudi crown prince to talk about oil prices or not?
GRANHOLM: Well, he’s going for the purpose of this international conference. I know that he will — I think he will meet with the Saudi crown prince. He has asked for all suppliers around the globe to increase production. That includes OPEC… BASH: So, they will have a one-on-one meeting? GRANHOLM: That’s my understanding that they — he will be meeting. But there’s a series of meetings around energy overall.
On 6/19/2022, Yellen said she doesn’t think a recession is “inevitable.” “I expect the economy to slow,” Yellen said on This Week. “It’s been growing at a very rapid rate. … The labor market has recovered, and we have reached full employment.” “It’s natural now that we expect a transition to steady and stable growth,” she added. Treasury Sec Yellen says economy has “been growing at a very rapid rate.” it shrunk last quarter.. She also says Biden policies are not responsible for gas prices, but admits production is down.
On 6/19/2022, on CBS’s Face the Nation, National Economic Council director Brian Deese claimed that a recession is “not inevitable,” despite a recent poll that found more than 60 percent of CEOs around the world are expecting a recession before the end of 2023. “Not only is a recession not inevitable, but I think that a lot of people are underestimating those strengths and the resilience of the American economy,” Deese said. On possibility of recession, Deese says that economy right now is in a transition. On sky-high gas prices across America, he said “look, we get it.”
CBS’ Margaret Brennan Presses Deese over lie that inflation was transitory. CBS pushes back on Deese hiking taxes isn’t gonna change the price of milk. Deese said that Biden’s policy has always been a transition to clean energy.
On 6/19/2022, Current Treasury Secretary Janet Yellen said during an interview that she does not believe that a recession is inevitable. “I expect the economy to slow,” Yellen said during an appearance on ABC’s “This Week.” “It’s been growing at a very rapid rate. … The labor market has recovered, and we have reached full employment. It’s natural now that we expect a transition to steady and stable growth,” Yellen continued. “That’s going to take skill and work, but I believe it’s possible. I don’t think recession is inevitable.”
Former Obama Economic Advisor and Treasury Secretary Warns That ‘a Recession is Ahead’.
CBS: if your paycheck feels smaller, it probably is as real wages decline under Joe Biden.
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Recession not inevitable but transition to steady & stable growth. Biden to meet with Saudi crown prince.