White House Insists That President Biden Has Sparked A 'Historic Economic Boom'

'The American people are well positioned to face these challenges because of the economic historic gains that we have made under this president in the last six months,' White House press secretary Karine Jean-Pierre argued  

Daily Mail: White House says Biden has sparked 'historic economic BOOM' as Dow plunges into bear market amid record inflation, high gas prices and recession fears: Claims Americans 'are well positioned to face these challenges' thanks to the President 

* White House is defending President Biden's economic record 

* Comes as inflation is high, gas is over $5 a gallon and stock market has dropped 

* 'The American people are well positioned to face these challenges because of the economic historic gains,' Karine Jean-Pierre said 

* White House has struggled to get inflation and high prices under control 

* Voters give Biden low marks for his handling of the economy 

The White House defended President Joe Biden's economic record on Monday as the nation experienced historic inflation, gas prices over $5 a galloon and the stock market dropping. 

White House press secretary Karine Jean-Pierre argued President Biden actually made historic economic gains, which would help the American people go through these economic 'challenges.' 

She blamed inflation - prices in May were 8.6% higher than a year earlier - the greatest increase since 1981 - on the covid pandemic and on Russian President Vladimir Putin's war in the Ukraine.  

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WNU Editor: Do Americans believe President Biden has sparked a "historic economic boom"? That the current inflationary pressures are due to Putin? The polls say no .... Just 28 percent in new poll approve of Biden’s handling of inflation (The Hill). 

More News On The US Economy  

White House press secretary says Americans are 'well positioned' to face economic challenges -- CNN  

Biden economic adviser says White House hasn't 'missed much at all' on inflation -- FOX News  

Bear market hits Wall Street as stocks, bonds, crypto dive -- AP  

Powell Facing Choice Between Elevated US Inflation and Recession -- Bloomberg  

Crypto firms Celsius, Binance halt withdrawals as bitcoin plummets -- The Hill  

S&P 500 tumbles nearly 4% to new low for the year, closes in bear market territory -- CNBC  

Carnage! -- Zero Hedge  

The S&P 500 is in a bear market; here’s what that means -- AP