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Biden assures that the economy is "strong as hell"

The president is not worried about the poor economic situation or that inflation is at a 40-year high.

Joe Biden habla en una conferencia de prensa en la Casa Blanca el 28/07/2022 / Cordon Pess.

(Cordon Press)

Published by
Alejandro Baños

During his visit to Portland (Oregon) to support Democratic gubernatorial candidate Tina Kotek, Joe Biden assured the crowd that he is not worried about the poor economic situation that the United States is going through. In a conversation with a reporter at a famous ice cream shop, he stated that "the economy is strong as hell" while eating an ice cream cone.

High inflation continues. It was down just 0.1% from the previous month and, when asked about the effect on the dollar, the president did not hesitate to assure that he is not worried about the economic situation:

I’m not concerned about the strength of the dollar. I’m concerned about the rest of the world. Our economy is strong as hell. Inflation is worldwide. It’s worse off than it is in the United States. So the problem is the lack of economic growth and sound policy in other countries not so much ours.

Inflation continues at record highs

The US inflation data for September confirmed the most negative forecasts. Prices increased by 8.2% compared to September 2021. This number represents a drop of only one tenth of a percentage point over August’s inflation, which was 8.3%. Core inflation, which excludes food and energy prices, reached 6.6%.

Inflation

Data released by the Bureau of Labor Statistics showed a slight slowdown from the strong summer increases, although it remains at the highest levels seen in the last 40 years.

Regarding price trends during the month of September, general data showed that prices rose by 0.4% during these 30 days while core inflation rose 0.6%.

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