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Business

White House bullish on 'resilient' US economy amid global tensions

Agence France-Presse
White House bullish on 'resilient' US economy amid global tensions
Biden told his team to stay in "frequent touch with partners, allies, and key market actors, and to brief him regularly as conditions evolve."
AFP / Mandel Ngan

WASHINGTON, United States — The White House said Wednesday it remains bullish on the "resilient" US economy in the face of growing political and economic strains around the world.

The prognosis was issued in a statement after President Joe Biden was briefed by top economic advisors, including the treasury, energy and labor secretaries, for "an update on global financial and energy markets."

"They reported that the United States economy remains resilient in the face of global challenges, thanks in part to the president’s economic plan, which has helped spur a historic recovery" from the Covid pandemic slump, the statement said.

Biden told his team to stay in "frequent touch with partners, allies, and key market actors, and to brief him regularly as conditions evolve."

Press Secretary Karine Jean-Pierre said the US economy is well-placed to survive fallout from rising stresses, which include soaring energy prices in Europe, food supply disruptions around the world linked to Russia's assault on Ukraine, and ongoing tensions with top economic competitor China.

"The United States of America is in a stronger position than any other country to navigate these global challenges," she said. "That's the way we see it. That's the way his economic team sees it. And that's because jobs are up, incomes are up and people are back at work."

US ECONOMY

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