Politico reports 'recession talk surges' from Washington to Wall Street despite Biden's reassurances

“Da Wall Street a Washington, i sussurri su un'imminente crisi economica sono diventati quasi un ruggito mentre la Federal Reserve intensifica la sua battaglia contro l'inflazione più alta degli ultimi quattro decenni,” economics reporter Victoria Guida wrote inNo More Whispers: Recession Talk Surges in Washington.

Many in finance and the media have warned about a potential recession for months, with Bloomberg publishing a piece in May arguing that the Federal Reserve likely expected a recession back then.

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President Biden speaks about inflation and supply chain issues at the Port of Los Angeles, Venerdì, giugno 10, 2022, a Los Angeles.

President Biden speaks about inflation and supply chain issues at the Port of Los Angeles, Venerdì, giugno 10, 2022, a Los Angeles. ((AP Photo/Damian Dovarganes))

Fed Chair Jerome Powell has begun saying the quiet part out loud,” Guida wrote. “The central bank is willing to tolerate a recession if it means getting inflation under control.

While Biden has publicly backed Powell’s efforts, raising expectations of a recession are compounding the administration’s economic woes as Democrats head into congressional elections this year,” ha continuato.

President Biden has stated publicly that a recession is not inevitable. “There’s nothing inevitable about a recession,” Biden said when asked by a reporter last month. “Don’t make things up,” he told the reporter.

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WASHINGTON - GENNAIO 22:  The Federal Reserve building is seen January 22, 2008 a Washington, DC. (Photo by Chip Somodevilla/Getty Images)

WASHINGTON – GENNAIO 22: The Federal Reserve building is seen January 22, 2008 a Washington, DC. (Photo by Chip Somodevilla/Getty Images)

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