In Denial: White House Economist Says Data ‘Inconsistent’ With Recession
View Source | July 28, 2022 2:08 pm
- White House economist Jared Bernstein on Thursday said the U.S. is not in a recession after the second quarter GDP report revealed the U.S. economy shrank once again in Q2.
- The Commerce Department announced Thursday morning that U.S. GDP shrank 0.9% in the spring quarter, the second consecutive quarter, thus meeting the widely accepted criteria for a recession.
- Bernstein says the issue is more nuanced and that current economic data on job growth, consumer spending and industrial production prove otherwise.
Click to read full article
Go back home
Share This Article: