President Joe Biden signed a bill Friday to avert a freight rail strike that he said could have plunged the U.S. into a catastrophic recession.
At the White House, Biden signed a measure passed Thursday by the Senate and Wednesday by the House. It binds rail companies and workers to a proposed settlement that was reached between the railroads and union leaders in September but rejected by some of the union workers.
The president, for decades a vocal labor ally, called it the “right thing to do” given the risks to an economy that is battling high inflation.
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