Biden Economic Adviser Deese on Recession: ‘There Are Always Risks’

National Economic Council Director Brian Deese said Sunday on CNN’s “State of the Union” that there was a risk of the United States falling into an economic recession.

Anchor Dana Bash said, “Yes or no, is the U.S. falling into a recession?”

Deese said, “There are always risks. Our economy is in a transition from what has been the strongest recovery in modern American history to what could be stable and resilient growth. There’s no doubt we face serious global challenges, inflation first and foremost among them, and it’s hitting families hard. But there’s also no doubt that the United States is in a better position than any other major country around the world to address inflation without giving up all the economic gains we’ve had. That’s because of the strength of our recovery. We have the strongest job market. We have businesses investing. We have Americans actually increasing their savings.”

Bash pressed, “Given all that, are you confident that the U.S. can avoid a recession?”

Deese said, “In this transition, the United States is in a better place than any other country because of those strengths. If you think about where we have come from, we have navigated through Delta and Omicron. We’ve navigated through the gyrations coming from Putin’s war in Ukraine, and still, the American consumer, the American business has been resilient through this period. And so if we keep our focus on bringing inflation down in a way that actually helps families.”

Bash said, “But you’re not saying no?”

Deese said, “Look, there are always risks, but we feel very good about where the United States is, particularly when you look on the global landscape.”

Follow Pam Key on Twitter @pamkeyNEN

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