The united states has entered a recession, New York Mayor Eric Adams said on Thursday, contradicting earlier claims by Chief executive Joe Biden that the economy is “ on the correct path. ”
“ We are in a financial crisis like you can never imagine… Wall Street is certainly collapsing; we are in a recession, ” Adams stated at a New York event hosted by nonprofit Project Food, as cited by Hamodia news outlet.
“ You tell me what to take off the plate if you want me personally to put something else on the plate. I’m coming to you as a city and saying, ‘ This is how much we have, absolutely it, ” he announced.
The top town official’s statements come in contrast with the assurances that Biden gave earlier the same day, stating that despite the fact “ the economy can be slowing down, ” Washington’s efforts to battle soaring pumpiing in the country put it “ on the right path. ”
Both Adams and Biden were activities on official figures launched earlier on Thursday that showed that the US economy has shrunk for two consecutive quarters, which is considered a sign of the recession.
The newest York mayor later amended his words, however , stating that it is the president’s prerogative to describe the state of the economy.
“ The president will make a perseverance on the official title associated with where we are; that’s the chief executive, and I follow the lead of the president. We’re dealing with hard economic times, but we’re going to get through it, because I actually trust in the president, ” he told the media.
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