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December 5, 2022

Biden: Economy upbeat; risks remain

WASHINGTON (AP) — President Joe Biden is assuring the nation that the U.S. economy is chugging along. But along with his upbeat words on Friday, a new jobs report showed that high inflation remains a threat.

At the White House, the president signed a bill to avoid a rail strike that he said could have caused 765,000 job losses in two weeks and plunged the country into recession. But many voters and economists already fear that a downturn is nigh and that the price of reducing inflation will be layoffs.


 
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