The White House maintains that, despite a recently downgraded projection from Goldman Sachs, economic growth under President Joe Biden will remain “the strongest that we’ve seen in decades.”
A reporter asked National Economic Council Director Brian Deese about the projection during Wednesday’s press briefing, questioning whether the administration “overpromised” or if officials are “at all concerned that you’ve stacked set expectations too high at this point?”
“It’s a good question,” Deese conceded. “Even with a downgraded forecast, growth in 2021 would be the strongest that we’ve seen in decades.”
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Biden’s top economic adviser proceeded to tout “the record and historic strength of this recovery, not just historically, compared to other recoveries from crises and recessions in the United States, but record globally.”
“The United States is the only developed country where GDP has already recovered to its pre-pandemic level,” he continued. “That hasn’t happened anywhere else in the world. The strength of our view of economic growth and of growth in the labor market is sufficient that we can continue to see strong growth, even as we deal with unanticipated circumstances, even as we work through the COVID delta challenges.”
“I think the thing that is most notable about that is that even with these headwinds, we’re seeing the United States continue to outpace our international peers and continue to outpace our historic progress for recoveries at similar points,” Deese said.
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You can watch Wednesday’s briefing in its entirety below.
