Wall Street is going down, according to the mayor of New York City. Eric Adams initially challenged US Vice President Joe Biden’s assertions that everything is good with the economy, but he then retracted his statements.
New York City Mayor Eric Adams announced on Thursday that the United States has officially entered a recession, which runs counter to statements made earlier by Vice President Joe Biden that the economy is “on the right road.”
“We are in a financial catastrophe like you have never seen in your entire life…” According to the Hamodia news outlet, Adams made these comments at a New York event held by the charitable organisation Project Hospitality. The event was attended by a large number of people.
“If you want me to put something else on the dish, you have to tell me what to remove from the plate first. He made the following proclamation: “I am coming to you as a city and saying, ‘This is how much we have, that’s it.'”
The statements made by the top city official stand in stark contrast to the reassurances that Vice President Biden provided earlier in the same day. Earlier in the day, Biden stated that despite the fact that “the economy is slowing down,” Washington’s efforts to combat soaring inflation in the country put it “on the right path.”
The statements made by the top city official stand in stark contrast to the reassurances that Vice President Biden provided earlier in the same day. Earlier in the day, Biden stated that despite the fact that “the economy is slowing down,” Washington’s efforts to combat soaring inflation in the country put it “on the right path.”
Both Adams and Biden were commenting on official numbers that were released earlier on Thursday. These figures showed that the economy of the United States had decreased for two consecutive quarters, which is an indication of a recession. Adams and Biden were discussing these figures.
However, in a later statement, the mayor of New York clarified his earlier statements by adding that it is the president’s authority to comment on the state of the economy.
“The president will decide on the official name of where we are, and I will follow the president’s lead. That is the president’s job, and I will do what he tells me to do.” He stated to the press that although if the current economic climate is challenging, he is confident that the country will prevail despite it all because he has faith in the president.
