WATCH: Biden says he's leaving economy 'stronger than ever' for Americans as his term nears end
www.pbs.org
President Joe Biden lauded his administration’s record on the economy after the labor department reported Friday a surge in job growth and decline in unemployment last month.

Summary

President Joe Biden highlighted his administration’s economic record, citing consistent job growth and a 2.7% inflation rate drop from its 2022 peak.

December’s jobs report showed 256,000 new jobs and declining unemployment, signaling steady economic growth.

However, inflation remains above the Federal Reserve’s 2% target, and interest rates remain high, impacting homebuyers and businesses.

Public pessimism lingers on affordability as Biden passes a largely strong economy to his successor, Donald Trump.

  • Maggoty@lemmy.world
    63·
    2 months ago

    Deflation is fine. Plenty of countries have been through deflation and they haven’t exploded. Japan is probably the best example.

    • DragonTypeWyvern@midwest.social
      52·
      2 months ago

      BUt tHeY dIdnT kEep dOmInaTiNg Tech anD cArS

      Which has nothing at all to do with China, Korea, and Taiwan all rushing to be local and global competitors I’m sure.