Biden signals U.S. can avert recession but Americans are ‘really down’
President Joe Biden said a U.S. recession isn't inevitable and acknowledged that aides warned him about the inflationary risk of his flagship relief bill. He said he was told by Treasury Secretary Janet Yellen that his COVID aid package could have a marginal impact on inflation, adding that he doesn’t think it did. The comments shed new light on Biden’s moves to curb inflation. Biden has frequently said that the alternative to the relief plan was a deeper economic derailment and a more sluggish recovery.