Boushey, a WH Economist, is Confident that a Recession Can be Avoided.

At a late-Tuesday Washington Post (WaPo) event, White House (WH) economist Heather Boushey expressed her current hope that the US can avoid recession.

June 22, 2022 - 12:48 PM 296 views

Boushey, a WH Economist, is Confident that a Recession Can be Avoided.

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© Boushey, a WH Economist, is Confident that a Recession Can be Avoided.

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At a late-Tuesday Washington Post (WaPo) event, White House (WH) economist Heather Boushey expressed her current hope that the US can avoid recession.

Key Quotes

"It's part of the job description to be concerned about the next recession."

But for the time being, we are still hopeful that nothing will happen that will cause the kinds of scars in American families that we really don't want to see.

The policies of former Vice President Joe Biden "had fueled substantial job creation and quicker-than-expected declines in unemployment, which were excellent indicators of the resilience of the US economy."

When asked about Biden's recent statement that a recession was not inevitable, Boushey responded that she agreed and added, without providing any specific statistics, that the economy was healthy, had low unemployment, and could weather "storms" like the COVID-19 epidemic.

That gives us some assurance that businesses and families will be able to survive should oil prices remain high or even increase—which would be terrible—because they have finances to fall back on.

The Market Reaction

As of the aforementioned remarks, the US dollar index was trading at roughly 104.50.

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