No, we’re not in a recession, Biden administration tells U.S. voters

Published by
Reuters

By Trevor Hunnicutt WASHINGTON (Reuters) – The U.S. economy is plagued by inflation and suffering from fallout from Russia’s war in Ukraine – but it’s not in recession. That’s the message from White House officials. Treasury Secretary Janet Yellen, economic adviser Brian Deese and Commerce Secretary Gina Raimondo have spoken out in recent days ahead of data on Thursday that may show that gross domestic product (GDP) shrank from April to June. The Federal Reserve Bank of Atlanta’s GDP forecast suggests a 1.6% decline. That would mark the second quarter of GDP decline in a row. While a broad rul…

Read More

Leave a Reply