The US economic crisis is unprecedented: New York mayor

Wall Street is collapsing: New York mayor announces an unprecedented crisis

The head of New York, Eric Adams, announced the onset of a severe crisis in the United States, writes the New York Post.

"Wall Street is crashing and we're in a financial crisis like you can't even imagine," he said at an event in Staten Island hosted by the nonprofit Project Hospitality.

As noted in the publication, Adams's statements contrast sharply with the words of US President Joe Biden that everything is in order with the country's economy.

Earlier, the Bureau of Economic Analysis of the US Department of Commerce issued a press release earlier, according to which the country's gross domestic product in the second quarter of 2022 decreased by 0.9% on an annualized basis. Thus, the US economy has been in decline for six months.

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Author`s name Petr Ermilin