{"id":1570290,"date":"2022-07-25T17:03:40","date_gmt":"2022-07-25T21:03:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1570290"},"modified":"2022-07-25T17:06:28","modified_gmt":"2022-07-25T21:06:28","slug":"biden-were-not-gonna-be-in-a-recession","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-were-not-gonna-be-in-a-recession\/","title":{"rendered":"Biden: \u2018We\u2019re Not Gonna Be In A Recession\u2019"},"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\">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%2Fbiden-were-not-gonna-be-in-a-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=1570290&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><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/recession-2-scaled-e1658782088512.jpeg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>President Joe Biden told reporters Monday that he\u2019s not worried by speculation that the U.S. economy might be in a recession when economic data comes out Thursday.<\/p>\n<p>Biden held a virtual press conference Monday afternoon, in advance of data scheduled to be released on Thursday that could confirm that the economy has contracted for two consecutive quarters, a commonly used definition of recession.<\/p>\n<p>Biden was <a href=\"https:\/\/twitter.com\/disclosetv\/status\/1551659372559929345?s=20&#038;t=RKml-jmIoX5HwumvvPI6dA\" target=\"_blank\" rel=\"noopener noreferrer\">asked<\/a> by Fox News White House correspondent Peter Doocy how \u201cworried Americans should be that we could be in a recession,\u201d to which he responded \u201cwe\u2019re not gonna be in a recession, in my view.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Biden says he doesn\u2019t expect the US to go into a recession <a href=\"https:\/\/t.co\/YWxsZlQkFi\">https:\/\/t.co\/YWxsZlQkFi<\/a> <a href=\"https:\/\/t.co\/eNhl7EeC4a\">pic.twitter.com\/eNhl7EeC4a<\/a><\/p>\n<p>\u2014 Bloomberg TV (@BloombergTV) <a href=\"https:\/\/twitter.com\/BloombergTV\/status\/1551672815463665665?ref_src=twsrc%5Etfw\">July 25, 2022<\/a> <\/p>\n<\/blockquote>\n<p>Biden\u2019s response comes following similar comments by\u00a0administration officials, including Treasury Secretary\u00a0<a href=\"https:\/\/dailycaller.com\/2022\/07\/25\/white-house-redefine-recession-gdp-data\/\">Janet Yellen,<\/a>\u00a0economic adviser\u00a0<a href=\"https:\/\/dailycaller.com\/2022\/07\/25\/white-house-brian-deese-definition-recession-america-gdp\/\">Brian Deese<\/a>\u00a0and press secretary <a href=\"https:\/\/dailycaller.com\/2022\/06\/21\/jean-pierre-downplays-fears-of-possible-recession\/\">Karine Jean-Pierre,<\/a> disputing what makes a recession. <strong><a href=\"https:\/\/dailycaller.com\/2022\/07\/25\/white-house-redefine-recession-gdp-data\/\">(The White House Wants To Redefine \u2018Recession\u2019 Ahead Of Possibly Disastrous GDP Report)<\/a><\/strong><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Two consecutive quarters of negative growth is a recession no matter what the Biden Administration says.<\/p>\n<p>\u2014 Lance Gooden (@Lancegooden) <a href=\"https:\/\/twitter.com\/Lancegooden\/status\/1551663069813788673?ref_src=twsrc%5Etfw\">July 25, 2022<\/a> <\/p>\n<\/blockquote>\n<p>The administration noted that\u00a0 the National Bureau of Economic Research (NBER) determines whether the economy is in a recession, and <a href=\"https:\/\/www.nber.org\/research\/business-cycle-dating\">NBER does, in fact, say <\/a>that \u201cthere is no fixed rule about what measures contribute information to the process or how they are weighted in our decisions,\u201d including the two quarters of contraction indicator.<\/p>\n<p>But in each of the past ten instances that GDP has contracted two quarters in a row, NBER <a href=\"https:\/\/dailycaller.com\/2022\/07\/25\/economist-dismantles-biden-admins-attempt-redefine-recession\/\">has deemed<\/a> the economy to be in a recession, casting doubt on Biden\u2019s optimism.<\/p>\n<p>The White House did not immediately respond to the DCNF\u2019s request for comment.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8216;We&#8217;re not gonna be in a recession, in my view.&#8217;<\/p>\n","protected":false},"author":979,"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-1570290","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\/1570290","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\/979"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1570290"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1570290\/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=1570290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1570290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1570290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}