Yellen says ‘threats on horizon’ could bring US closer to recession as Congress nears recess

This week marks what some are referring to as Joe Biden’s “moment of truth” on the economy. A number of significant data points are anticipated to create a dismal picture for the president as Congress prepares to go on summer break and the midterm elections grow closer.

Because of this, senior White House individuals like Treasury Secretary Janet Yellen have been highlighting the virtues and resiliency of the US economy even as inflation soars to four-decade highs.

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