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US President Joe Biden said his country’s economy is experiencing “bright spots” after several tough years and is heading for a “new high” that appears to be a description of the steady growth expected by White House officials.\n <\/p>\n

And while investors, many economists and some executives have recently warned of a recession in the United States in 2023, the Biden administration sees this as unlikely and attributes it in part to federal spending.<\/p>\n

Biden told his cabinet that he expects $3.5 trillion in public and private investment in the manufacturing and technology sectors over the next 10 years, which will boost the economy and the outlook for American businesses and workers.<\/p>\n

He added: \u201cThis is not about reaching a flat point. It’s about hitting a whole new high,” noting, “We’re the only country in the world that came out of the crisis stronger than we entered it.”<\/p>\n

Biden cited recent data showing low inflation, strong growth and a stable job market, but said hundreds of billions of dollars of federal spending needed to be implemented through three major laws passed last year.<\/p>\n

Source: CNNBC.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

US President Joe Biden said his country’s economy is experiencing “bright spots” after several tough years and is heading for a “new high” that appears to be a description of the steady growth expected by White House officials. And while investors, many economists and some executives have recently warned of a recession in the United […]<\/p>\n","protected":false},"author":3,"featured_media":11360,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1752,153,1605,1620,3601],"class_list":["post-1544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-american","tag-biden","tag-economy","tag-good","tag-reflects"],"yoast_head":"\n