{"id":1570725,"date":"2022-07-26T05:37:04","date_gmt":"2022-07-26T09:37:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1570725"},"modified":"2022-07-26T05:37:06","modified_gmt":"2022-07-26T09:37:06","slug":"biden-were-not-going-into-a-recession","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-were-not-going-into-a-recession\/","title":{"rendered":"Biden: \u2018We\u2019re Not Going Into a Recession\u2019"},"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\">14<\/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-going-into-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=1570725&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>President Joe Biden insists that the United States is not slipping into an <a href=\"https:\/\/www.theepochtimes.com\/t-economic-recession\">economic recession<\/a>, a view that is being pushed strongly by the White House ahead of the soon-to-be-released Q2 GDP numbers.<\/p>\n<p>\u201cWe\u2019re not going to be in a recession, in my view,\u201d Biden <a href=\"https:\/\/www.youtube.com\/watch?v=gI2C4IDEtNg&#038;t=5042s\">said<\/a> in a virtual meeting on the semiconductor bill on July 25. \u201cThe unemployment rate is still one of the lowest we\u2019ve had in history. It\u2019s in the 3.6 percent area. We still find ourselves with people investing. My hope is we go from this rapid growth to a steady growth, so we\u2019ll see some coming down.\u201d<\/p>\n<p>Biden\u2019s statement comes as the Commerce Department is scheduled to release its second quarter 2022 estimate of U.S. GDP on Thursday. In the first quarter, the U.S. economy had shrunk at an annualized pace of 1.6 percent.<\/p>\n<p>Most economists classify a country to be in recession when the nation has two consecutive quarters of GDP declines.<\/p>\n<p>As such, if the Q2 GDP data to be released on July 28 also <a href=\"https:\/\/www.atlantafed.org\/cqer\/research\/gdpnow\">show<\/a> negative GDP, the U.S. will generally be considered to be in recession.<\/p>\n<p>The Federal Reserve Bank of Atlanta is predicting a GDP decline of 1.6 percent in the second quarter.<\/p>\n<p>However, the White House is attempting to redefine what a recession is. \u201cWhile some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle,\u201d the White House Council of Economic Advisers <a href=\"https:\/\/www.theepochtimes.com\/what-exactly-is-recession-white-house-issues-note-defining-recession_4615264.html\">wrote<\/a> in a new blog.<\/p>\n<p> Recession Impending <\/p>\n<p>Contrary to Biden and the White House, many financial institutions and experts expect the United States to be in a recession this year or the next.<\/p>\n<p>Bank of America is expecting a \u201cmild recession\u201d later this year, predicting a 1.4 percent<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden insists that the United States is not slipping into an economic recession, a view that is being pushed strongly by the White House ahead of the soon-to-be-released Q2 GDP numbers. \u201cWe\u2019re not going to be in a recession, in my view,\u201d Biden said in a virtual meeting on the semiconductor bill on [\u2026]<\/p>\n","protected":false},"author":186,"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-1570725","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\/1570725","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\/186"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1570725"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1570725\/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=1570725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1570725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1570725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}