White House cautiously optimistic over economy in 2023: ‘Absolutely no sign’ job growth will tumble or unemployment will spike
CNN
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As Wall Street and Main Street fret about a potential recession, White House officials are projecting confidence about the economy’s ability to weather the storm in 2023.
“We’re feeling cautiously optimistic because we are starting to see some real concrete measurable signs of progress,” Aviva Aron-Dine, deputy director of the White House National Economic Council, told CNN in a Zoom interview.
The Biden administration economist pointed to a range of metrics showing inflation has cooled off, real wages have heated up and the job market has defied doomsday predictions.
The White House is hoping for a soft landing, in which the Federal Reserve tames inflation without crashing the economy.
“We remain optimistic about a transition to stable, steady growth with lower inflation – without giving…
