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 October 22, 2022

Joe Biden asks officials to prepare for 2008-like financial crisis

President Joe Biden has reportedly urged his team to prepare for an economic decline similar to 2008, according to the New York Times.

Recent meetings appear to be preparing for a looming financial crisis as interest rates continue to increase and recession fears grow.

"Biden has hosted several meetings in recent weeks focused primarily on discussing emerging economic issues around the world, with a particular interest in recent events in Britain, the NYT reported," the Daily Caller reported.

"The value of the British pound collapsed after a controversial tax cut plan spurred investor fears of runaway inflation, but after the plan was reversed, markets showed signs of a rebound, according to CNBC," it added.

The report comes just days after Biden claimed the nation's economy is "strong as hell" while eating ice cream at a Basking Robins.

The truth may be much different, however, as both the president and other financial leaders warn of concerns ahead in the near future.

Written By:
Staff Writers

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