Jobs report fuels White House optimism that recession will be averted

Categories: In the News | Published On: July 10, 2022 |

White House officials are expressing cautious optimism that the economy will not tip into recession this year, as a strong jobs report and new wage data give the administration a boost after months of brutal economic headlines.

President Biden and his top surrogates have argued for months that economic growth and hiring are strong enough to overcome the Federal Reserve’s moves to raise interest rates.

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