Julia Eisen – WMAL News | December 11, 2023
As Americans continue to worry about rising prices due to inflation, Virginia Governor Glenn Youngkin is claiming that a recession is not out of the question.
Youngkin cites the Biden Administration as a reason as to why people are feeling the economic pressures.
“The challenge is rising cost of living. It’s just clear now over the course of the past three years of the Biden economy we have seen inflation really run away from a lot of folks,” Youngkin said in a Bloomberg News interview. “Sixty percent of Americans are living paycheck to paycheck and I hear it.”
While Americans are frustrated by inflation outpacing wages, economists widely believe the Federal Reserve will have encouraging news in 2024, with the possibility of cutting interest rates.
The fear of a recession is one of the top concerns for voters leading into the 2024 election cycle, according to Bloomberg News.
“We’re watching our economy, and we’re debating whether we’re going to have a recession or not,” he said.
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