{"id":1524355,"date":"2022-06-20T16:04:41","date_gmt":"2022-06-20T20:04:41","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1524355"},"modified":"2022-06-20T16:04:56","modified_gmt":"2022-06-20T20:04:56","slug":"govt-economists-fail-to-say-recession-is-coming","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/govt-economists-fail-to-say-recession-is-coming\/","title":{"rendered":"Govt Economists fail to say recession is coming"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgovt-economists-fail-to-say-recession-is-coming%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1524355&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div id=\"attachment_2722645\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2722645\" class=\"size-full wp-image-2722645\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/AP22171546192471-scaled.jpg\" alt=\"U.S. Treasury Secretary Janet Yellen (right) meets with Canadian Deputy Prime Minister and Minister of Finance Chrystia Freeland in Toronto, on Monday, June 20, 2022. (Chris Young\/The Canadian Press via AP)\" width=\"2560\" height=\"1707\" \/><\/p>\n<p id=\"caption-attachment-2722645\" class=\"wp-caption-text\">U.S. Treasury Secretary Janet Yellen (right) meets with Canadian Deputy Prime Minister and Minister of Finance Chrystia Freeland in Toronto, on Monday, June 20, 2022. (Chris Young\/The Canadian Press via AP)<\/p>\n<\/div>\n<h5>OAN NEWSROOM<br \/>UPDATED 12:53 PM PT \u2013 Monday, June 20 2022<\/h5>\n<p>Top Government Economists are reluctant to say a recession is looming, despite warning the economy is likely to slow down. The messaging is clear among Economists within the Biden administration, \u201cdon\u2019t say recession.\u201d<\/p>\n<p>Several Biden Economists were scattered around on several corporate news outlets where they said inflation will likely \u201cnot come down to the Federal Reserve\u2019s two percent target and the US Economy will slow down, but a recession is not inevitable.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Together, we&#8217;ve made extraordinary progress in laying a new foundation for our economy. <\/p>\n<p>But there&#8217;s still so much at stake. <a href=\"https:\/\/t.co\/0hcrgpdTGs\">pic.twitter.com\/0hcrgpdTGs<\/a><\/p>\n<p>\u2014 President Biden (@POTUS) <a href=\"https:\/\/twitter.com\/POTUS\/status\/1538922127306407936?ref_src=twsrc%5Etfw\">June 20, 2022<\/a><\/p>\n<\/blockquote>\n<p>President of the Cleveland Fed Loretta Mester said she agreed with Fed Chairman Jerome Powell that the central bank cannot do much more than it already has done. Powell announced last week that the fed is going to hike the interest rate by 75 basis points, which is 50 percent more than they originally planned.<\/p>\n<p>Mester asserted, this will aim to moderate demand for goods and services so that it can get back in balance with the supply side of the economy. However, she went on to blame external factors for high prices of gas, pointing to the Russian invasion of Ukraine.<\/p>\n<blockquote>\n<p><strong>\u201cOf course there are other things going on as well,\u201d said Mester. The Ukraine situation which is a tragedy has really led to the prices. Other things were moving on the supply side as well. No doubt, supply conditions remain constrained longer than I think anyone thought.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>Meanwhile, Secretary of Treasury Janet Yellen echoed the administration\u2019s talking point that the economy under Biden was booming until it suddenly went bust. Yellen claimed the labor market is the strongest in decades, despite record number of people quitting their jobs. She also blamed Russia for America\u2019s high energy and food prices. She stressed, the only way to manage the economic crises is to submit to Biden\u2019s climate agenda.<\/p>\n<blockquote>\n<p><strong>\u201cI think that producers were partly caught unaware by the strength of the recovery in the economy and weren\u2019t ready to meet the needs of the economy,\u201d Yellen expressed. \u201cHigh prices should induce them to increase supplies over time and look at some medium term matter. The way in which we can assure reasonable energy expenses for household is to move to renewables, to address climate change. That\u2019s the way to free us from GO political movements and gas prices.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>Additionally, Director of the National Economic Council Brian Deese downplayed the negative impacts of Biden\u2019s economic policies. He continued the long discredited practice of calling the sky high inflation rates as \u201ctransitory,\u201d and also tried to say there are immensely positive things Biden has done.<\/p>\n<blockquote>\n<p><strong>\u201cWe need to navigate through this transition in a way that gets us to stable growth without giving up on all the economic gains that we\u2019ve made,\u201d expressed Deese.<\/strong><\/p>\n<\/blockquote>\n<p>However, former US Treasury Secretary under President Bill Clinton, Larry Summers, said a recession is in fact on the horizon. Many experts have credited Summers as one of the most prophetic critics who accurately predicted the economic crises coming into fruition. He asserted, record inflation, food and energy prices are all signs that point to a recession. The former top Economist said there are several things the Government can do to pullout of the economic crisis.<\/p>\n<blockquote>\n<p><strong>\u201cIf at long last we can have some kind of bipartisan budget bill with three elements,\u201d stated Summers. \u201cReduction of pharmaceutical prices put in place, the partial repeal of the Trump tax cuts and more energy supply approach.\u201d\u00a0<\/strong><\/p>\n<\/blockquote>\n<p>In the meantime, the Fed is gearing up to unleash another massive interest rate hike if the inflation rate that will continue to soar. Critics of the Biden administration urge officials to stop playing the blame game and work towards fixing their mistakes.<\/p>\n<p>Several polls have shown American voters are looking to make a change in the midterm elections. They want to see better economic policies in America<\/p>\n<h4>MORE NEWS:\u00a0<a href=\"https:\/\/www.oann.com\/june-is-internet-safety-awareness-month\/\">June Is Internet Safety Awareness Month<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>U.S. Treasury Secretary Janet Yellen (right) meets with Canadian Deputy Prime Minister and Minister of Finance Chrystia Freeland in Toronto, on Monday, June 20, 2022. (Chris Young\/The Canadian Press via AP) OAN NEWSROOMUPDATED 12:53 PM PT \u2013 Monday, June 20 2022 Top Government Economists are reluctant to say a recession is looming, despite warning the &hellip;<\/p>\n","protected":false},"author":764,"featured_media":1888647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1524355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1524355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/764"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1524355"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1524355\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1888647"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1524355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1524355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1524355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}