Biden says 'we're not anywhere near a recession' right now

U.S. President Joe Biden on Wednesday said he believed the U.S. economy would have a soft landing and avert recession.

Biden told a news conference at the White House that he was also confident his administration could reduce inflation, but could not guarantee it.

"I am optimistic because we continue to grow, and at a rational pace. We're not anywhere near a recession right now, in terms of the growth, but I think we can have what most economists call a soft landing," Biden said.