Transportation Secretary Pete Buttigieg says recession is 'possible but not inevitable'

foxnews.com:

Transportation Secretary Pete Buttigieg said recession is "possible but not inevitable," in an interview with ABC's George Stephanopoulos Sunday. "How worried are you?" Stephanopoulos asked Buttigieg of America's economic future on "This Week." "Look, it's possible but not inevitable," Buttigieg said. "And we're doing everything we can to strengthen the foundations of the American economy." And that means a lot on the supply side." What that looks like, Buttigieg said, is expanding the production capacity in the U.S.

U.S. Secretary of Transportation Pete Buttigieg speaks during the UN Climate Change Conference (COP26), in Glasgow, Scotland, Britain, November 10, 2021. (REUTERS/Yves Herman) The transportation secretary said it's hard for the supply side to keep up with increased demand, touting the September jobs report showing that unemployment had fallen to a half-century low and average pay had risen.

The administration, he said, is working on dealing with the "bottlenecks" and "constraints" in transportation infrastructure "that's needed to be upgraded for decades." Under this president, Buttigieg said, it has "finally gotten done." The jobs report raised concerns, however, that the Federal Reserve had a ways to go to fight inflation.

JPMorgan Chase's Jamie Dimon warned last week that the U.S. is headed for a recession in the next six to nine months. "But you can’t talk about the economy without talking about stuff in the future – and this is serious stuff," Dimon said, citing inflation, quantitative easing, and Russia’s war with Ukraine.  "These are very, very serious things, which I think are likely to push the U.S.