President Joe Biden said Monday there would be “a new world order” established and led by the United States while speaking at a roundtable to discuss Russia’s war on Ukraine and the economy.

“You know we are at an inflection point, I believe, in the world economy — not just the world economy, in the world. Occurs every three or four generations,” Biden said. “As one of the top military people said to me in a security meeting the other day, 60 million people died between 1900 and 1946, and since then, we’ve established a liberal world order and that hadn’t happened in a long while.”

“A lot of people died but nowhere near the chaos, and now is the time when things are shifting. There’s going to be a new world order out there. We’ve got to lead it, and we’ve got to unite the rest of the free world in doing it,” he continued.

During the meeting, Biden touted February’s unemployment rate and said the economy was growing, but noted inflation is “real” and a concern. The president also discussed his goal to have components of electric vehicles — such as batteries and semiconductors — made domestically, noting it would spur job growth.