{"id":1535731,"date":"2022-07-01T16:49:26","date_gmt":"2022-07-01T20:49:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1535731"},"modified":"2022-07-01T16:49:36","modified_gmt":"2022-07-01T20:49:36","slug":"we-may-already-be-in-a-recession-key-fed-tracker-shows","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/we-may-already-be-in-a-recession-key-fed-tracker-shows\/","title":{"rendered":"We May Already Be In A Recession, Key Fed Tracker Shows"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/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%2Fwe-may-already-be-in-a-recession-key-fed-tracker-shows%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=1535731&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--><p>A key data tracker used by a branch of the <a href=\"https:\/\/www.dailywire.com\/topic\/federal-reserve\">Federal Reserve<\/a> indicates that the United States <a href=\"https:\/\/www.dailywire.com\/topic\/economy\">economy<\/a> is showing the negative growth seen in the first quarter continued, meaning the U.S. economy is already in a recession.<\/p>\n<p>On Friday, CNBC <a href=\"https:\/\/www.cnbc.com\/2022\/07\/01\/atlanta-fed-gdp-tracker-shows-the-us-economy-is-likely-in-a-recession.html\">reported<\/a> that the Atlanta Federal Reserve\u2019s <a href=\"https:\/\/www.atlantafed.org\/cqer\/research\/gdpnow\">GDPNow tracker<\/a> \u2014 a tool that monitors and reports <a href=\"https:\/\/www.dailywire.com\/topic\/economics\">economic<\/a> data in-real time\u00a0 \u2014 estimated that U.S. second-quarter growth shrank by 2.1%. On Thursday, GDPNow estimated that growth in the second quarter shrunk by 1.6%. A recession is defined as two consecutive quarters of negative GDP growth.<\/p>\n<p>\u201cGDPNow has a strong track record, and the closer we get to July 28th\u2019s release [of the initial Q2 GDP estimate], the more accurate it becomes,\u201d Nicholas Colas, co-founder of DataTrek Research said, according to CNBC.<\/p>\n<p>\u201cCoupled with the first-quarter\u2019s decline of 1.6%, that would fit the technical definition of recession,\u201d the business media outlet added.<\/p>\n<p>Former Treasury Secretary Lawrence Summers\u00a0<a href=\"https:\/\/www.yahoo.com\/lifestyle\/larry-summers-says-risk-2022-143147135.html\">told<\/a> the media on Friday that there is an increasingly likely risk of a recession.<\/p>\n<p>\u201cThe risks of a 2022 recession are significantly higher than I would have judged six or nine weeks ago,\u201d Summers <a href=\"https:\/\/www.yahoo.com\/lifestyle\/larry-summers-says-risk-2022-143147135.html\">said<\/a> during an interview on Bloomberg Television\u2019s \u201cWall Street Week.\u201d\u00a0 \u201cIf the economy did go into recession in the next six to nine months, then you\u2019d probably see a reduction in inflationary pressures,\u201d he added.<\/p>\n<p>The predictions come as the U.S. is <a href=\"https:\/\/www.dailywire.com\/news\/federal-reserve-chairman-says-fixing-inflation-highly-likely-to-involve-some-pain-for-the-american-people\">experiencing<\/a> record-high inflation alongside unprecedented monetary policy by the Federal Reserve in an effort to get surging prices under control. A recession compounded by inflation is known as \u201cstagflation.\u201d<\/p>\n<p>In May, inflation rose to 8.6% in the U.S. In an effort to tame rising prices, the Federal Reserve began\u00a0<a href=\"https:\/\/www.dailywire.com\/news\/federal-reserve-takes-most-aggressive-action-to-fight-inflation-in-three-decades\">hiking interest rates<\/a>\u00a0\u2014 most recently through a 0.75% increment that represented the boldest move to battle inflation in nearly three decades. Rate hikes increase the cost of borrowing capital, thereby tightening business investment and consumer activity. Earlier in June, Federal Reserve Governor Christopher Waller warned that efforts from the central bank to tackle higher price levels would lead to higher unemployment.<\/p>\n<p>On Wednesday, <a href=\"https:\/\/www.dailywire.com\/topic\/federal-reserve\">Federal Reserve<\/a> Chairman Jerome Powell said that fixing <a href=\"https:\/\/www.dailywire.com\/topic\/inflation\">inflation<\/a>\u00a0will \u201chighly likely\u201d involve some pain for the American people, but said failing to address it would be even worse for the nation and the\u00a0<a href=\"https:\/\/www.dailywire.com\/topic\/economy\">economy<\/a>.<\/p>\n<p>During a panel at the European Central Bank forum, host Francine Laqua asked Powell, \u201cIf you\u2019re speaking out to the American people to try and help them understand how long it will take for, you know, monetary policy to go back to something that resembles normalcy \u2026 what would you tell them?\u201d<\/p>\n<p>\u201cI would say that we fully understand and appreciate \u2026 the pain people are going through dealing with higher inflation, that we have the tools to address that and the resolve to use them, and that we are committed to and will succeed in getting inflation down to two percent,\u201d he responded.<\/p>\n<p>\u201cThe process is likely, highly likely to involve some pain, but the worst pain would be from failing to address this high inflation and allowing it to become persistent,\u201d Powell added.<\/p>\n[embedded content]\n","protected":false},"excerpt":{"rendered":"<p>A key data tracker used by a branch of the Federal Reserve indicates that the United States economy is showing the negative growth seen in the first quarter continued, meaning the U.S. economy is already in a recession. On Friday, CNBC reported that the Atlanta Federal Reserve\u2019s GDPNow tracker \u2014 a tool that monitors and &#8230;<\/p>\n","protected":false},"author":326,"featured_media":1535773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1535731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1535731","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\/326"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1535731"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1535731\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1535773"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1535731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1535731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1535731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}