President Joe Biden speaks about the nation's economic recovery amid the COVID-19 pandemic in the State Dining Room of the White House on July 19, 2021 in Washington, DC.
President Joe Biden speaks about the nation's economic recovery amid the COVID-19 pandemic in the State Dining Room of the White House on July 19, 2021 in Washington, DC.
Drew Angerer/Getty Images
  • President Joe Biden made a speech about economic recovery amid the COVID-19 pandemic on Monday.
  • In the speech at the White House, he said capitalism is "alive and very well."
  • "We're making serious progress to ensure that it works the way it's supposed to work," he added.
  • See more stories on Insider's business page.

President Joe Biden said that "capitalism is alive and very well" in a speech about economic recovery amid the COVID-19 pandemic at the White House on Monday.

"It turns out capitalism is alive and very well," he said. "We're making serious progress to ensure that it works the way it's supposed to work for the good of the American people."

This is a developing story. Please check back for updates.

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