{"id":1576240,"date":"2022-07-28T09:26:22","date_gmt":"2022-07-28T13:26:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1576240"},"modified":"2022-07-28T09:26:38","modified_gmt":"2022-07-28T13:26:38","slug":"cnn-reporters-tweet-come-back-to-haunt-him-as-he-tries-to-dismiss-recession-fears","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cnn-reporters-tweet-come-back-to-haunt-him-as-he-tries-to-dismiss-recession-fears\/","title":{"rendered":"CNN Reporter\u2019s Tweet Come Back To Haunt Him As He Tries To Dismiss Recession Fears"},"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\">30<\/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%2Fcnn-reporters-tweet-come-back-to-haunt-him-as-he-tries-to-dismiss-recession-fears%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=1576240&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\/2022-06-30T103431Z_1_LYNXMPEI5T0FU_RTROPTP_4_MARKETS-FOREX-INTERVENTION-scaled-e1658944501980.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>CNN White House Correspondent John Harwood\u2019s 2019 tweet is coming back to haunt him as he tries to dismiss fears about an impending recession.<\/p>\n<p>Harwood retweeted several tweets downplaying <a href=\"https:\/\/dailycaller.com\/2022\/07\/26\/cnn-rana-foroohor-technical-definition-recession-doesnt-matter\/\" target=\"_blank\" rel=\"noopener noreferrer\">concerns<\/a> about a <a href=\"https:\/\/dailycaller.com\/2022\/07\/25\/reporter-kaitlan-collins-karine-jean-pierre-definition-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">recession<\/a> as President Joe Biden\u2019s administration tries to redefine what constitutes a <a href=\"https:\/\/dailycaller.com\/2022\/07\/26\/peter-doocy-challenges-adviser-brian-deese-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">recession<\/a> ahead of Thursday\u2019s <a href=\"https:\/\/dailycaller.com\/2022\/07\/25\/white-house-redefine-recession-gdp-data\/\" target=\"_blank\" rel=\"noopener noreferrer\">GDP report<\/a>.<\/p>\n<p>Harwood retweeted a post from Ben White, who said \u201cthe White House is pretty obviously right that even two quarters of shrinking GDP would not show the economy is currently in recession. Getting people to understand that and the nuances of our strange, vexing, economic moment is just really hard. By me.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The White House is pretty obviously right that even two quarters of shrinking GDP would not show the economy is currently in recession.<\/p>\n<p>Getting people to understand that and the nuances of our strange, vexing, economic moment is just really hard. By me.<a href=\"https:\/\/t.co\/SWyuSG2IMS\">https:\/\/t.co\/SWyuSG2IMS<\/a><\/p>\n<p>\u2014 Ben White (@morningmoneyben) <a href=\"https:\/\/twitter.com\/morningmoneyben\/status\/1552275594200637441?ref_src=twsrc%5Etfw\">July 27, 2022<\/a><\/p>\n<\/blockquote>\n<p>Harwood also retweeted a claim from Paul Krugman who said \u201cignore the two-quarter rule.\u201d<\/p>\n<p>\u201cWe might have a recession, but we aren\u2019t in one now.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Ignore the two-quarter rule. We might have a recession, but we aren\u2019t in one now <a href=\"https:\/\/t.co\/48qpo9uoQL\">https:\/\/t.co\/48qpo9uoQL<\/a><\/p>\n<p>\u2014 Paul Krugman (@paulkrugman) <a href=\"https:\/\/twitter.com\/paulkrugman\/status\/1552254144198721537?ref_src=twsrc%5Etfw\">July 27, 2022<\/a><\/p>\n<\/blockquote>\n<p>Harwood then retweeted a claim from Marc Goldwein who said \u201cno, 2 quarters of negative economic growth does not mean we\u2019re in a recession.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">1) no, 2 quarters of negative economic growth does not mean we\u2019re in a recession<br \/>2) just because we\u2019re not in a recession, doesn\u2019t mean the economy is doing great \u2014- it\u2019s not.<\/p>\n<p>\u2014 Marc Goldwein (@MarcGoldwein) <a href=\"https:\/\/twitter.com\/MarcGoldwein\/status\/1552074024758530048?ref_src=twsrc%5Etfw\">July 26, 2022<\/a><\/p>\n<\/blockquote>\n<p>Despite Harwood\u2019s several retweets that the U.S. is not heading toward a recession due to the apparent redefinition, Harwood himself tweeted the exact opposite nearly three years ago.<\/p>\n<p>\u201cbtw it\u2019s not possible for a recession to last only two months,\u201d Harwood tweeted. \u201cRecession=economy shrinks for two quarters.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">btw it\u2019s not possible for a recession to last only two months<\/p>\n<p>recession = economy shrinks for two quarters<\/p>\n<p>\u2014 John Harwood (@JohnJHarwood) <a href=\"https:\/\/twitter.com\/JohnJHarwood\/status\/1163896550336139264?ref_src=twsrc%5Etfw\">August 20, 2019<\/a><\/p>\n<\/blockquote>\n<p>The White House Council of Economic Advisers claimed in a July 21 blog post that two consecutive quarters of falling GDP is not indicative of a <a href=\"https:\/\/dailycaller.com\/2022\/07\/25\/white-house-brian-deese-definition-recession-america-gdp\/\" target=\"_blank\" rel=\"noopener noreferrer\">recession<\/a>. <strong><a href=\"https:\/\/dailycaller.com\/2022\/07\/25\/economist-dismantles-biden-admins-attempt-redefine-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: Economist Dismantles Biden Admin\u2019s Attempt To Redefine Recession With One Chart)<\/a><\/strong><\/p>\n<p>\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 <a href=\"https:\/\/www.whitehouse.gov\/cea\/written-materials\/2022\/07\/21\/how-do-economists-determine-whether-the-economy-is-in-a-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">blog post<\/a> said. \u201cInstead, both official determinations of recessions and economists\u2019 assessment of economic activity are based on a holistic look at the data \u2013 including the labor market, consumer and business spending, industrial production, and incomes.\u201d<\/p>\n<p>\u201cBased on these data, it is unlikely that the decline in GDP in the first quarter of this year \u2013 even if followed by another GDP decline in the second quarter \u2013 indicates a recession.\u201d<\/p>\n<p>The National Bureau of Economic Research uses several factors to determine whether the U.S. is in a <a href=\"https:\/\/dailycaller.com\/2022\/07\/22\/jennifer-granholm-clean-energy\/\" target=\"_blank\" rel=\"noopener noreferrer\">recession<\/a>, though economist <a href=\"https:\/\/money.cnn.com\/2008\/05\/05\/news\/economy\/recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">Julius Shiskin<\/a> wrote in 1974 that two consecutive quarters of declining GDP is a good rule of thumb when defining a <a href=\"https:\/\/www.forbes.com\/advisor\/investing\/what-is-a-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">recession<\/a>. The <a href=\"https:\/\/dailycaller.com\/2022\/07\/21\/nyt-paul-krugman-green-energy\/\" target=\"_blank\" rel=\"noopener noreferrer\">definition<\/a> has become somewhat of a <a href=\"https:\/\/www.weforum.org\/agenda\/2022\/07\/global-economic-recession-meaning\/\" target=\"_blank\" rel=\"noopener noreferrer\">standard<\/a> since.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CNN White House Correspondent John Harwood\u2019s 2019 tweet is coming back to haunt him as he tries to dismiss fears about an impending recession.Harwood retweeted several tweets downplaying concerns about<\/p>\n","protected":false},"author":74,"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-1576240","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\/1576240","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\/74"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1576240"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1576240\/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=1576240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1576240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1576240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}