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WATCH: Despite Banks Collapsing, KJP Claims Biden Has Built A ‘Strong Economy’

The White House is claiming President Joe Biden has built a “strong economy” just one week after the failures of Silicon Valley Bank and Signature Bank.

On Wednesday, Caitlin Huey-Burns, CBC’s White House correspondent, asked Biden’s press secretary Katrine Jean-Pierre about the president’s consistent support of Jerome Powell, the chairman of the Federal Reserve.


“We understand what the American people are feeling, that is why we have made it a priority to do everything that we can to lower costs for Americans,” KJP replied.

“We do not see a recession or pre-recession. We see a strong economy and it’s because of the work that this president has done,” she added.

Another reporter pressed KJP further and asked if an economic downturn would stem from the collapse of the two large banks. KJP referred to Jerome Powell’s comments claiming the economy is “sound.”

“So look, I’m going to start with what I normally say about the Fed — is first and foremost the Fed is independent and we do not comment or interfere on their policies. We want to make sure — the president wants to make sure that we give them the space needed to make their decisions on monetary policy,” she began.

“One of the things that I’ll just repeat that the [Federal Reserve} chair Powell said, and I quote: ‘Our banking system is sound and resilient with strong capital and liquidity.’ And I’ll just leave it there. I won’t go beyond what he said,” KJP added.


Powell made comments on Wednesday where he contested that the Federal Reserve’s printing of money is “actually not what’s driving inflation.”






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