August 14, 2022

La Ronge Northerner

Complete Canadian News World

Biden talks about the state of the US economy

Biden talks about the state of the US economy

(Biden is scheduled to begin speaking at 2:15 PM ET. Please refresh the page if the above video hasn’t played at that time.)

President Joe Biden will deliver remarks on the US economy Thursday and meet with a small group of CEOs “to receive an update on economic conditions across key sectors and industries,” according to the White House.

Two CEOs are scheduled to attend in person: Corning CEO Wendell Weeks and Marriott International CEO Anthony Capuano.

Three other corporate leaders will join the meeting by video call: Bank of America CEO Brian Moynihan, Thasunda Brown Duckett, who leads pension fund giant TIAA, and Puneet Rengen, CEO of Deloitte.

The event will also be attended by several administration officials: Treasury Secretary Janet Yellen, Secretary of Commerce Gina Raimondo, National Economic Council Director Brian Daisy, and Cecilia Ross, chair of the White House Council of Economic Advisers.

The meeting comes as the Biden White House is trying hard to convince Americans that the US economy is not slipping into recession.

With more and more economic data showing a slowdown, Biden goes on the offensive to say the US economy is healthy.

Earlier Thursday, Biden addressed the issue of recession by pointing to the low unemployment rate and strong growth in manufacturing jobs over the past few years.

“This does not sound like a recession to me,” he said in a brief speech at the White House.