President Joe Biden on Thursday trumpeted the latest GDP report that showed the US economy expanded by an annualized 2.9% during the fourth quarter, capping off a year that saw 2.1% economic growth, according to Commerce Department data released Thursday morning.
Biden was in Springfield, Virginia, to deliver his first major economic speech of the year.
"Last summer, plenty of Wall Street analysts were saying that by the end of the year there would be a recession," he said. "They've been telling me since I got elected, we were going to be in a recession. Every time we've gotten better. It turns out, thank God, they were wrong."
Biden also touted the strong labor market, historically low unemployment rate and the declines in inflation during recent months.