Haisten Willis is a White House reporter for the Washington Examiner. Before moving to D.C., Haisten was an Atlanta-based freelance journalist, writing for the Washington Post, Atlanta Journal-Constitution, and U.S. News & World Report, among other outlets.
The economy grew by a 4.9% seasonally adjusted annual rate in the third quarter of this year, up from 2.1% the quarter before, the Bureau of Economic Analysis reported on Thursday morning. Biden said he was pleased with the figure."I never believed we would need a recession to bring inflation down — and today we saw again that the American economy continues to grow even as inflation has come down," he said.
The president mostly elided that issue in his statement, simply noting that inflation is"down." While that's true, inflation is still roughly double the Fed's 2% target and nearly triple the 1.4% inflation rate the month Biden took office.
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