Biden; Recession Is Not Inevitable

TOKYO (AP) – President Joe Biden says he does not believe an economic recession in the U.S. is inevitable despite record high inflation and supply shortages partly caused by Russia’s invasion of Ukraine. Speaking at a news conference in Tokyo, Biden acknowledged that the U.S. economy has “problems.” But he said it was better positioned than the economies of other countries. Biden says his administration is working to ease the pain for U.S. consumers, but immediate solutions were unlikely. Biden spoke as he was set to launch a new trade pact between the U.S. and Indo-Pacific countries.