Biden has a new headache: He can't avoid the debate over whether the U.S. is in a recession, but if he dwells on it, he may hasten the very slowdown he's desperate to avoid.
"Certainly in terms of the technical definition, it is not a recession," Brian Deese, the director of the National Economic Council, said on CNN on Monday morning."My hope is we go from this rapid growth to steady growth and so we'll see some coming down," he said.Biden has a "strong antenna of what American families are going through," an administration official said today.
“As president, you are always trying to be optimistic about the economy today and tomorrow," said Gary Cohn, who ran the National Economic Council under former President Trump and is now vice chairman of IBM. "But you risk looking out of touch with voters that are suffering today and who are very concerned about the economic reality of tomorrow."After the 9/11 attacks, then-President George W. Bush tried to bolster the airline industry and the broader economy by encouraging Americans toBy custom, the National Bureau of Economic Research officially determines whether the U.S. economy is in recession.
"I do want to emphasize: What a recession really means is a broad-based contraction in the economy," Treasury Secretary Janet Yellen said on NBC’s "Meet the Press" this weekend.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden says 'we're not going to be in a recession' ahead of GDP numbers: 'God willing'President Biden said 'God willing' the United States is 'not coming into a recession,' ahead of a looming GDP report that will likely show the economy has slowed for two consecutive quarters.
Read more »
Krugman Says He Was 'Wrong About Inflation,' Summers Talks Recession, Biden Criticized Over ‘Half-Truths and Fibs’ – Economics Bitcoin News“As it turned out, of course, that was a very bad call,” the economist Paul Krugman wrote on July 21, 2022. Inflation Recession economics
Read more »
Opinion | Biden Backs Off Anti-Abortion Judicial Nominee—Because GOP Senator ObjectsThe Biden White House changed its mind about nominating an anti-abortion judge to a federal court—but not because of progressives' objections.
Read more »
White House COVID chief says Biden has BA.5 subvariant, feels 'much, much better'Dr. Ashish Jha, the White House COVID-19 response coordinator, confirmed Sunday that President Biden was infected with the highly transmissible BA.5 subvariant of the coronavirus but said the president is 'doing just fine' as he continues to isolate.
Read more »
White House COVID chief confirms Biden has BA.5 subvariant, says he's 'feeling much, much better''Thank goodness, our vaccines and therapeutics work well against it, which is why I think the president's doing well,' Jha told 'Face the Nation.'
Read more »
Biden feeling ‘much, much better’ after COVID diagnosisOfficials have emphasized that President Biden's symptoms are mild because he received four vaccine doses and started taking the antiviral drug Paxlovid after becoming infected.
Read more »