Recession is ‘possible but not inevitable’, Buttigieg says
Despite sharp increases in interest rates meant to cool the economy with year-over-year inflation barely easing in the latest Consumer Price Index report, a recession is “possible but not inevitable”, on Sunday, Pete Buttigieg Transportation Secretary said. If the threat of recession worried him Buttigieg was asked in an interview on “This Week”. Buttigieg told anchor George Stephanopoulos, adding that it’s “been hard for the supply side to keep up, “Look, it’s possible but not inevitable, Americans have more income, in this almost Americans have jobs historically low level of unemployment because a part of why we do see a lot of pressure on prices is that while the demand has come back”. Buttigieg said, by the COVID-19 pandemic referring to a supply-chain crunch exacerbated “That’s a big part of what we’re working on the infrastructure side dealing with some of the bottlenecks we have, we have in transportation infrastructure that’s needed to be upgraded for decades that d...