Biden says he doesn't think there will be a recession, if so it will be 'very slight' - CNBC

President Joe Biden said helium doesn't judge determination volition beryllium a recession successful the adjacent aboriginal and if determination is, helium expects it to beryllium a "slight" economical dip.

"Every six months they accidental this. Every six months, they look down the adjacent six months and accidental what's going to happen," Biden said successful an interrogation with Jake Tapper connected CNN that was aired Tuesday, referring to caller economical projections by large U.S. banks.

"It hadn't happened yet. It hadn't... I don't deliberation determination volition beryllium a recession. If it is, it'll beryllium a precise flimsy recession. That is, we'll determination down slightly."

JPMorgan Chase CEO Jamie Dimon on Monday warned of the likelihood of a recession successful six to 9 months.

In an interrogation with CNBC, Dimon warned of a "very, precise serious" premix of headwinds which could extremity some the U.S. and planetary system into recession by the mediate of adjacent year.

The concerns travel arsenic the Federal Reserve continues to rise involvement rates aggressively successful an effort to trim inflation. In September, the U.S. cardinal slope raised benchmark involvement rates by three-quarters of a percent constituent — it was the Fed's 3rd consecutive hike.

Biden didn't afloat discount the likelihood of a recession but told CNN the likelihood were low.

"It's possible," Biden said. "I don't expect it."

The president acknowledged the U.S. has "real problems" but credited authorities passed nether his medication similar the Inflation Reduction Act with putting the United States successful "a amended presumption than immoderate different large state successful the satellite economically and politically."