{"id":1590803,"date":"2022-08-05T09:48:36","date_gmt":"2022-08-05T13:48:36","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1590803"},"modified":"2022-08-05T09:48:39","modified_gmt":"2022-08-05T13:48:39","slug":"americans-who-think-were-in-a-recession-are-actually-just-confused-white-house-adviser","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-who-think-were-in-a-recession-are-actually-just-confused-white-house-adviser\/","title":{"rendered":"Americans Who Think We\u2019re in a Recession Are Actually Just Confused: White House Adviser"},"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\">28<\/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%2Famericans-who-think-were-in-a-recession-are-actually-just-confused-white-house-adviser%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=1590803&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>White House economic adviser Jared Bernstein said recently that Americans who think the country has fallen into a <a href=\"https:\/\/www.theepochtimes.com\/t-recession\">recession<\/a> are basically confused about the source of their economic pain, while doubling down on the Biden administration\u2019s view that the U.S. economy isn\u2019t, in fact, in a contraction, despite two back-to-back quarterly negative GDP prints.<\/p>\n<p>Jared Bernstein, who\u2019s a member of the White House Council of Economic Advisers, told CNN\u2019s \u201cSituation Room\u201d program last week that while it\u2019s understandable that most Americans think the country is in a recession, the reason they feel that way is because of high <a href=\"https:\/\/www.theepochtimes.com\/t-inflation\">inflation<\/a> rather than economic fundamentals or a shrinking economy.<\/p>\n<p>\u201cMost people are thinking about inflation. They\u2019re thinking about the pressures on their family budgets. And it\u2019s completely understandable that they would be,\u201d Bernstein said, adding that inflation in the United States is running unacceptably high.<\/p>\n<p>According to the latest Consumer Price Index (CPI) data, U.S. inflation soared to 9.1 percent in <a href=\"https:\/\/www.theepochtimes.com\/june-inflation-hits-9-1-percent-new-40-year-high_4594424.html\">annual terms in June<\/a>, a fresh 40-year high.<\/p>\n<p> \u2018Makes Perfect Sense\u2019 <\/p>\n<p>In the interview, Bernstein was asked to comment on a CNN poll conducted by SSRS (<a href=\"https:\/\/s3.documentcloud.org\/documents\/22088874\/cnn-poll-biden-approval-rating.pdf\">pdf<\/a>), which revealed that 64 percent of Americans believe the economy is now in a recession.<\/p>\n<p>Bernstein told the outlet that it\u2019s reasonable that most Americans feel the country\u2019s in a recession because they\u2019re experiencing an inflation-driven cost-of-living crunch.<\/p>\n<p>\u201cI say that that makes perfect sense to me that people would answer a poll with that kind of response. And the reason is because if you actually look at how the group that designates recessions \u2026 it\u2019s a fairly technical set of analyses that we\u2019ve been talking about throughout the week,\u201d Bernstein said, adding that most people are actually thinking about inflation when responding to questions about recession.<\/p>\n<p>America\u2019s economy contracted by an annualized rate of<\/p>\n","protected":false},"excerpt":{"rendered":"<p>White House economic adviser Jared Bernstein said recently that Americans who think the country has fallen into a recession are basically confused about the source of their economic pain, while doubling down on the Biden administration\u2019s view that the U.S. economy isn\u2019t, in fact, in a contraction, despite two back-to-back quarterly negative GDP prints. Jared [\u2026]<\/p>\n","protected":false},"author":118,"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-1590803","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\/1590803","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\/118"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1590803"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1590803\/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=1590803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1590803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1590803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}