US not near recession, needs more time to cool prices: US president Biden

President Joe Biden said he is optimistic the US isn’t nearing a recession the day after Democrats fared better than expected in midterm elections clouded by voter anxiety about inflation and the economy.
 

“We’re not anywhere near a recession right now, in terms of the growth,” said Biden at the White House on Wednesday. “I think we can have what most economists call a soft landing, and I’m convinced that we’re going to be able to gradually bring down prices so that they in fact, end up with us not having to move into recession.”

Biden said that his actions