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Is the US economy heading down, and taking the world with it? | Business and Economy | NEWSRUX

From: The Backside Line

US President Joe Biden says inflation is his primary precedence – however can he do something about it?

With the price of residing rising each month, a painful recession appears extra probably. When america financial system begins to shrink, American shoppers cease spending. And when that occurs, your complete international financial system slows down as effectively.

US economist Douglas Holtz-Eakin is the previous head of the Congressional Funds Workplace. He says the federal government will proceed to boost rates of interest, which can earn money much less accessible out there and finally set off a recession.

Host Steve Clemons asks Holtz-Eakin whether or not President Joe Biden and the Democratic Celebration can pay the worth on the poll field this November.

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