White House economic adviser Brian Deese stopped short of ruling out a U.S. recession as the Federal Reserve combats inflation, saying the central bank needs space to do its job.
Deese, the director of the National Economic Council, said that approach reflects President Joe Biden’s pledge to make reining in the biggest consumer price increases in four decades his “top priority.”
“We need to give the Fed the space and the independence to do its job, which is to get inflation under control,” Deese said on CNN’s “State of the Union” on Sunday. “There are always risks,” he said when asked whether the U.S. is headed for a recession.
