United States Transportation Secretary Pete Buttigieg on Sunday acknowledged the risks of a recession in the US, noting, however, that an economic downturn is "not inevitable."
Buttigieg told ABC News in an interview that the Biden administration and the Federal Reserve officials are doing everything in their power to "strengthen the foundations of the American economy," which have been shaken by the global economic crises.
"Part of why we do see a lot of pressure on prices is that while demand has come back — Americans have more income because Americans have jobs in this almost historically low level of unemployment — it's been hard for the supply side to keep up," Buttigieg explained.
