- White House Chief of Staff Ron Klain insisted that the United States is not in a recession as Democrats make their final pitch days before the midterm elections.
- Despite an increase in economic output during the third quarter, the United States previously met the rule-of-thumb definition of a recession, two consecutive quarters of negative growth, as the production contracted at a 1.6 percent annualized rate in the first quarter and a 0.6 percent pace in the second quarter.
- “We are not in a recession. I want to be really, really clear on that,” Klain asserted. “The economy is growing; it is strong, it is creating jobs.”
