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.
When will they provide solutions?https://t.co/vlZwG8uMKc
— Daily Caller (@DailyCaller) October 21, 2022
"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.
President Biden: "I'm not concerned about the strength of the dollar. I'm concerned about the rest of the world, our economy's strong as hell." pic.twitter.com/ZFYLJVWSoM
— Watcher.Guru (@WatcherGuru) October 16, 2022
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.
