An economic adviser to US President Joe Biden said that the White House is concerned about the risks of a recession in the United States, but believes that the fundamentals of the economy are still strong enough to deal with them.
"Obviously this is a concern, but the backbone of our economy remains strong," according to Arab Net, Cecilia Rose told CNBC on Tuesday.
Rose returned to the contraction in gross domestic product recorded in the first quarter, stressing that it was caused by weak exports.
She added, "If you look at the main components of GDP in the last quarter, it was actually very strong in terms of consumer spending... The labor market is still strong, noting that growth is continuing."
For his part, the head of the Richmond regional office of the central bank, Thomas Barkin, said during a speech in Richmond, Virginia: "The economic data today still looks relatively good."
He made it clear that a return to normal will not necessarily pass into a recession, even if the danger exists.
And US Treasury Secretary Janet Yellen considered last Sunday that a recession is not inevitable in the United States.
She told ABC News: "I don't think a recession is inevitable, but she did expect the economy to slow down as it transitions to slow and stable growth."
