The warnings have been sounded for more than a year: A recession is going to hit the United States. If not this quarter, then by next quarter. Or the quarter after that. Or maybe next year.
President Joe Biden is eager to take full political ownership of the U.S. economy — a reflection of the White House belief that inflation is fading, job growth is solid and voters need to know about it.
Consumer price increases in the United States likely slowed sharply last month, extending a steady easing of inflation over the past year. But a gauge of underlying prices may still reflect persistent inflation pressures.
As President Joe Biden embarks on his reelection campaign, just 33% of American adults say they approve of his handling of the economy and only 24% say national economic conditions are in good shape, according to a new poll from The Associated Press-NORC Center for Public Affairs Research.
U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system.