• The U.S. dollar is indeed strong among other currencies on the global market, but that situation is large part the result over fears of a recession.
• Inflation in the U.S. this past summer hit a record, 40-year high, which has resulted in the Fed trying to cool the economy through a series of interest rate increases. But such increases could slow down the economy so much that the U.S. could slip into a recession.
• The Biden administration continues to acknowledge the possibility of a recession but agues it’s not inevitable.
• The Biden comment seem to roil some people because he made it while eating an ice cream cone, which perhaps appeared to suggest indifference or offhandedness.

Tagged: #Bidenflation