The American economy gained more than 300,000 jobs in February. In a speech on Friday, President Joe Biden celebrated the newest jobs report.“Overall, we’ve created more jobs in two years than any administration has created in the first four years,” Biden said.The president also touched on unemployment and how his administration has managed to keep those numbers below 4%. “Because of our economic plan, unemployment has been below 4 percent for 14 straight months since January 2022,” Biden said.With regard to inflation, Biden said that there were decreases of 30% compared to last summer. Gas prices have also seen a downward trend, an average of $1.50 less expensive than the peak last June. Still, though, inflation remains stubbornly high. According to the Federal Reserve, the aggressive fight will continue.”The data we’ve seen so far this year suggests that the ultimate level of rates will need to be higher,” said Jerome Powell, the Federal Reserve Chair.The president also specifically acknowledged the debt ceiling Friday, saying, “Falling on our debt puts us at risk.” “Our plan is in stark contrast to the MAGA Republican plan in Congress, where they’re doubling down on the same failed policies of the past that would give special tax breaks to the wealthy,” Biden continued. “They’re threatening to default on our national debt.”Rep. Chip Roy, R-Texas, responded, “It’s a false threat. If he defaults, he would be choosing to.”
The American economy gained more than 300,000 jobs in February.
In a speech on Friday, President Joe Biden celebrated the newest jobs report.
“Overall, we’ve created more jobs in two years than any administration has created in the first four years,” Biden said.
The president also touched on unemployment and how his administration has managed to keep those numbers below 4%.
“Because of our economic plan, unemployment has been below 4 percent for 14 straight months since January 2022,” Biden said.
With regard to inflation, Biden said that there were decreases of 30% compared to last summer. Gas prices have also seen a downward trend, an average of $1.50 less expensive than the peak last June.
Still, though, inflation remains stubbornly high. According to the Federal Reserve, the aggressive fight will continue.
“The data we’ve seen so far this year suggests that the ultimate level of rates will need to be higher,” said Jerome Powell, the Federal Reserve Chair.
The president also specifically acknowledged the debt ceiling Friday, saying, “Falling on our debt puts us at risk.”
“Our plan is in stark contrast to the MAGA Republican plan in Congress, where they’re doubling down on the same failed policies of the past that would give special tax breaks to the wealthy,” Biden continued. “They’re threatening to default on our national debt.”
Rep. Chip Roy, R-Texas, responded, “It’s a false threat. If he defaults, he would be choosing to.”
