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If there is a recession, it will be 'very slight,' Biden says

By Reuters   October 11, 2022 | 06:30 pm PT
If there is a recession, it will be 'very slight,' Biden says
U.S. President Joe Biden delivers remarks following a tour of IBM in Poughkeepsie, New York, U.S., October 6, 2022. Photo by Reuters/Tom Brenner
U.S. President Joe Biden said in an interview released on Tuesday that he did not think there would be a recession, but that if it happened it would only be "very slight."

"I don’t think there will be a recession," he told CNN.

"If it is, it’ll be a very slight recession. That is, we’ll move down slightly."

World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of global recession and said inflation remained a continuing problem after Russia's invasion of Ukraine.

"There's a risk and real danger of a world recession next year," Malpass said in a dialogue with Georgieva at the start of the first in-person meetings of the two institutions since the Covid-19 pandemic.

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