Mayor Eric Adams declared America in recession and “Wall Street is collapsing” – Contrary to President Joe Biden’s claim That the country of Jupiter will be better.
“If I want to put something else on the board, you tell me what board to put on. At an event hosted by the nonprofit Project Hospitality at Chancer Yeshiva on Staten Island, the mayor of the Big Apple comes to you as a city and says, ‘This is as much as we’ve got.’ . Report on Hamodia.
“We are in financial trouble beyond your imagination,” he added.
“Wall Street is collapsing; We are in recession.
Biden dismissed the notion that two consecutive quarters of negative GDP growth is indicative of the US economy. Slipped into recession Earlier Thursday.
Trade sector data Real GDP fell It fell 0.9% in the second quarter from 1.6% in the first quarter.
Economists had forecast modest growth of 0.3% and feared that the Federal Reserve’s efforts to control inflation would be scaled back.
Even Vice President Kamala Harris agreed.Inflation is very highand “Our economy is slowing down” during a visit to Bedford-Stuyvesant, where new federal dollars are being pumped for underserved communities Thursday afternoon.
Adams later retracted the comments.
“The President will decide on the official title of where we are; This is the President and I follow the President’s lead. We are going to face tough economic times, but I believe in the president because we will get through it,” he told Hamodia.
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