President Biden says the economy is moving in the right direction, but notes there’s still a long way to go. In reaction to the April jobs report, the President said, “the climb is steep.” The economy added 266-thousand jobs in April, far below expectations.
However, Biden noted the recovery is actually happening faster than he anticipated. Meantime, stocks are rising on Wall Street. This comes as investors believe monetary policies will stay the same following last month’s disappointing jobs report.