{"id":1568810,"date":"2022-07-24T16:37:02","date_gmt":"2022-07-24T20:37:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1568810"},"modified":"2022-07-24T16:37:04","modified_gmt":"2022-07-24T20:37:04","slug":"treasury-secretary-yellen-downplays-potential-for-us-recession","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/treasury-secretary-yellen-downplays-potential-for-us-recession\/","title":{"rendered":"Treasury Secretary Yellen Downplays Potential for US Recession"},"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%2Ftreasury-secretary-yellen-downplays-potential-for-us-recession%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=1568810&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>Treasury Secretary Janet Yellen on Sunday again downplayed fears of a possible recession Sunday but admitted an economic slowdown is occurring.<\/p>\n<p>Instead of a looming recession, Yellen told <a href=\"https:\/\/www.nbcnews.com\/meet-the-press\/video\/full-yellen-there-s-a-path-to-avoid-recession-144681029934\">NBC News<\/a> the U.S. economy is in \u201ca period of transition in which growth is slowing,\u201d which is \u201cnecessary and appropriate, and we need to be growing at a steady and sustainable pace. So there is a slowdown, and businesses can see that and that\u2019s appropriate, given that people now have jobs, and we have a strong labor market.<\/p>\n<p>\u201cThe labor market is now extremely strong \u2026 this is not an economy that\u2019s in recession,\u201d she said, adding,\u00a0\u201cBut you don\u2019t see any of the signs now. A recession is a broad-based contraction that affects many sectors of the economy. We just don\u2019t have that.\u201d<\/p>\n<p>Yellen noted that many economists believe that a recession occurs when there are two consecutive periods of negative gross domestic product, or GDP. In the first quarter of 2022, the U.S. GDP <a href=\"https:\/\/www.lemonde.fr\/en\/international\/article\/2022\/04\/29\/u-s-gdp-falls-by-1-4-in-first-quarter_5981953_4.html#:~:text=For%20the%20first%20time%20since,growth%20experienced%20in%20late%202021.\">slid<\/a> down 1.4 percent compared with the last quarter of 2021.<\/p>\n<p>Many economists expect the U.S. to see negative growth this quarter, but Yellen said even if that does happen, it doesn\u2019t necessarily mean there\u2019s a recession.<\/p>\n<p>\u201cEven if that number is negative, we\u2019re not in a recession now, and we should not be characterizing that as a recession,\u201d she said. Her comment drew pushback from NBC\u2019s Chuck Todd, who claimed she was splitting hairs over the definition of a recession.<\/p>\n<p>Yellen argued in the interview that the\u00a0National Bureau of Economic Research (NBER) \u201clooks at a broad range of data in deciding whether or not there is a recession, and most of the data that they look at right now continues to be strong.\u201d<\/p>\n<p>\u201cI would be amazed if the NBER would declare this period to be<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Janet Yellen on July 24 again downplayed concerns about a possible recession while conceding that an economic slowdown is occurring. Yellen told NBC News the U.S. economy is in \u201ca period of transition in which growth is slowing,\u201d which is \u201cnecessary and appropriate, and we need to be growing at a steady and [\u2026]<\/p>\n","protected":false},"author":58,"featured_media":2315279,"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-1568810","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\/1568810","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\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1568810"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1568810\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1568810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1568810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1568810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}