Part 5/8:
While acknowledging the global downturn in economic conditions due to the COVID-19 pandemic and geopolitical tensions, especially the war in Ukraine, Biden posited that his administration's swift actions had stabilized the economy. The President mentioned that the inflation rate is returning to pre-pandemic levels and that wages were increasing for many working families, though he recognized that challenges remain, particularly in the cost of living.
He underscored that the key to sustained economic health lies in continuing to grow the economy from the middle out and bottom up, advocating for unions and fair wages, which he believes are essential for economic equity.