US Pres. Biden: Jobs report shows economy is not at risk of overheating

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US President Joe Biden said on Friday that the US economy is moving in the right direction but noted that it still has a long way to go, as reported by Reuters.

Additional takeaways

“Economic recovery plan is designed to take a year.”

“April jobs report underscores how vital administration’s economic actions are.”

“Jobs report also shows the economy is not at risk of overheating.”

“US is still digging out of an economic collapse.”

“It will take time to get the US economy moving again.”

“Parts of the recovery plan are still being implemented.”

“State and local jobs expected to start coming back this month.”

“More help for the economy is needed.”

“Enhanced unemployment benefits do not measurably restrain workers from returning to labor force.”

Market reaction

The US Dollar Index stays deep in the negative territory following these comments and was last seen losing 0.65% at 90.30.

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