National Economic Council Director Brian Deese would not rule out a possible recession during a Sunday interview on CNN’s “State of the Union.”
Host Dana Bash asked whether the U.S. is at risk of falling into a recession.
“There are always risks,” Deese admitted. “Our economy is in a transition from what has been the strongest recovery in modern American history to what can be a period of more stable and resilient growth that works better for families. 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 that we’ve had.”
Deese said Americans are increasing their savings and paying down debt while businesses are investing into the economy to make his point.
“So, given all of that, are you confident that the U.S. can avoid a recession?” Bash pressed. (RELATED: Gas Stations Add Extra Digit To Pump Meters In Anticipation Of $10 Gas)
“But you’re not saying no,” Bash 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.”
Inflation reached its quickest uptick since December 1981 and soared to 8.5% in March.