President Joe Biden delivers remarks on the Inflation Reduction Act in the State Dining Room at the White House on Thursday, July 28, 2022, in Washington, D.C.. - Yuri Gripas/Abaca Press/TNS
President Joe Biden insisted the country is “on the right path” on Thursday even after the economy shrank for the second straight quarter and inflation rages at a nearly 40-year high. Taking credit for record job growth, Biden said the slowing economy was actually a sign of a healthy cooling down after the post-pandemic boom that helped trigger global price increases. “It’s no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation,” Biden said in a statement. “But even as we face historic global challenges, we are on the right path and we will come throug...
