Washington, D.C. – Foreign Policy for America commends the Biden administration for guiding the U.S. economy through a historic “soft landing,” curbing inflation while delivering solid economic and job growth. According to a recent report from the Bureau of Economic Analysis, U.S. GDP grew at a 2.8% rate in the third quarter, positioning the United States as the leading economy among advanced nations.
When President Biden took office, the country faced unprecedented challenges: a raging pandemic, a global economic recession, and widespread disruptions to critical international supply chains. These issues placed significant strains on American families, businesses, and the entire economy.
Through its legislative achievements—including the Inflation Reduction Act, the Bipartisan Infrastructure Law, and targeted measures to strengthen supply chain resilience—the Biden administration has stabilized and grown the economy. These programs addressed vulnerabilities in our supply chains exposed by the pandemic, spurred domestic innovation and manufacturing, and created good-paying clean energy and high-tech jobs from the Rust Belt to the Sun Belt. The Biden administration’s efforts over the past four years put the U.S. economy on a stronger and more sustainable path.
Since 2021, the United States has added millions of jobs, with unemployment reaching historic lows. In September alone, the economy added a remarkable 254,000 jobs. Inflation has moderated and continues to approach the Federal Reserve’s 2% target. Consumer confidence has made its strongest gain since March 2021.
“President Joe Biden and his administration accomplished what many thought impossible: pulling the United States out of the worst economic crisis since the Great Depression and sustaining one of the strongest periods of economic growth and unemployment reduction since World War II,” said Andrew Albertson, Executive Director of Foreign Policy for America. “President Biden has reinvigorated America’s industrial base, secured our most critical supply chains, delivered historic investments in the green transition, and ensured that America continues to lead our G7 partner nations as the largest, strongest, and most resilient economy in the world.”
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