President Joe Biden on Monday said the country is not going into a recession, doubling down on his administration's insistence that two quarters of economic decline isn't one - even though it meets the technical definition.‘We're not coming into recession in my view,' he told reporters during a virtual meeting at the White House. 'The employment rate is still the lowest we've had in history. My hope is we go from this rapid growth to steady growth. And so we'll see we'll see some coming down. But I don't think we're going to, God willing, I don't think we're gonna see a recession,' he said.
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