{"id":1571955,"date":"2022-07-26T15:08:24","date_gmt":"2022-07-26T19:08:24","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1571955"},"modified":"2022-07-26T15:08:31","modified_gmt":"2022-07-26T19:08:31","slug":"biden-admin-dismisses-recession-concerns-ahead-of-looming-gdp-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-dismisses-recession-concerns-ahead-of-looming-gdp-report\/","title":{"rendered":"Biden admin. dismisses recession concerns ahead of looming GDP report"},"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\">20<\/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-admin-dismisses-recession-concerns-ahead-of-looming-gdp-report%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=1571955&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_2730749\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2730749\" class=\"size-full wp-image-2730749\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/AP22206819861019.jpg\" alt=\"FILE - Pedestrians pass the New York Stock Exchange on July 14, 2022, in New York. The U.S. economy is caught in an awkward, painful place. A confusing one, too. Growth appears to be sputtering, home sales are tumbling and economists warn of a potential recession ahead. But consumers keep spending, businesses keep posting profits and the economy keeps adding hundreds of thousands of jobs a month. (AP Photo\/John Minchillo, File)\" width=\"1024\" height=\"683\" \/><\/p>\n<p id=\"caption-attachment-2730749\" class=\"wp-caption-text\">FILE \u2013 Pedestrians pass the New York Stock Exchange on July 14, 2022, in New York. The U.S. economy is caught in an awkward, painful place. A confusing one, too. Growth appears to be sputtering, home sales are tumbling and economists warn of a potential recession ahead. But consumers keep spending, businesses keep posting profits and the economy keeps adding hundreds of thousands of jobs a month. (AP Photo\/John Minchillo, File)<\/p>\n<\/div>\n<h5>OAN NEWSROOM<br \/>UPDATED 12:01 PM PT \u2013 Tuesday, July 26, 2022<\/h5>\n<p>The White House has continued to play off concerns of recession. Both the President and his aides insisted Monday that their administration does not believe the economy will hit a recession despite widespread inflation. Their dismissal came ahead of the GDP report to be released this week, which will show whether the US has experienced two consecutive quarters of shrinking.<\/p>\n<p>White House economic advisers have since tried to ignore the definition of recession, saying even if the advance GDP report comes back negative it\u2019s \u201cunlikely\u201d the US is in recession. Meanwhile, Cambridge economist Mohamed El-Erian criticizes the Federal Reserve specifically for doing \u201ctoo little, too late\u201d to stop inflation.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">CNN TURNS on Joe Biden, Humiliates Karine Jean-Pierre to her FACE after gaslighting Americans on definition of RECESSION <a href=\"https:\/\/t.co\/qzu6Rb5q7r\">pic.twitter.com\/qzu6Rb5q7r<\/a><\/p>\n<p>\u2014 Benny Johnson (@bennyjohnson) <a href=\"https:\/\/twitter.com\/bennyjohnson\/status\/1551971792176271362?ref_src=twsrc%5Etfw\">July 26, 2022<\/a><\/p>\n<\/blockquote>\n<p>In an <a href=\"https:\/\/thehill.com\/opinion\/finance\/3573974-the-problem-with-a-persistently-late-federal-reserve\/\">op-ed for The Hill<\/a> Tuesday, El-Erian noted the Fed insisted that inflation was not a problem for 15-months until it became obvious inflation has spiraled out of control. The economist said the current inflation rate of 9.1 percent is damaging to economic growth.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">On why and how the evolution of the US inflation-growth dynamics raises yet another set of complications for an already-challenged and widely-criticized Federal Reserve. <a href=\"https:\/\/t.co\/40CmqAT0eR\">https:\/\/t.co\/40CmqAT0eR<\/a><a href=\"https:\/\/twitter.com\/hashtag\/economy?src=hash&#038;ref_src=twsrc%5Etfw\">#economy<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/markets?src=hash&#038;ref_src=twsrc%5Etfw\">#markets<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/centralbanks?src=hash&#038;ref_src=twsrc%5Etfw\">#centralbanks<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/fed?src=hash&#038;ref_src=twsrc%5Etfw\">#fed<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/federalreserve?src=hash&#038;ref_src=twsrc%5Etfw\">#federalreserve<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/inflation?src=hash&#038;ref_src=twsrc%5Etfw\">#inflation<\/a> <a href=\"https:\/\/twitter.com\/thehill?ref_src=twsrc%5Etfw\">@thehill<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/EconTwitter?src=hash&#038;ref_src=twsrc%5Etfw\">#EconTwitter<\/a> <a href=\"https:\/\/t.co\/6l7gKeQHft\">pic.twitter.com\/6l7gKeQHft<\/a><\/p>\n<p>\u2014 Mohamed A. El-Erian (@elerianm) <a href=\"https:\/\/twitter.com\/elerianm\/status\/1551901016328531969?ref_src=twsrc%5Etfw\">July 26, 2022<\/a><\/p>\n<\/blockquote>\n<p>As a result. El-Erian said the Fed will now have to raise interest rates aggressively, which will contribute to an impending economic downturn. On top of that, many economists agree the US is sliding into a recession. El-Erian concluded by asserting a recession could have been avoided, but the Fed\u2019s actions will likely cause an economic downturn.<\/p>\n<h4>MORE NEWS:\u00a0<a href=\"https:\/\/www.oann.com\/rep-johnson-house-gop-agenda-taking-cues-from-contract-with-america\/\">Rep. Johnson: House GOP Agenda Taking Cues From \u2018Contract With America\u2019<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>FILE \u2013 Pedestrians pass the New York Stock Exchange on July 14, 2022, in New York. The U.S. economy is caught in an awkward, painful place. A confusing one, too. Growth appears to be sputtering, home sales are tumbling and economists warn of a potential recession ahead. But consumers keep spending, businesses keep posting profits &hellip;<\/p>\n","protected":false},"author":79,"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-1571955","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\/1571955","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\/79"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1571955"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1571955\/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=1571955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1571955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1571955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}