Should the economy decline in the second quarter, it could meet the technical criteria for a recession, which requires a "significant decline in economic activity that is spread across the economy and that lasts more than a few months." Still, the NBER — the semi-official arbiter — may not confirm it immediately.The White House is now seeking to redefine what constitutes a recession before the data release, which is likely to show two consecutive periods of shrinkage. In a new blog post, White House Council of Economic Advisers chair Cecilia Rouse and member Jared Bernstein argued the economy is nowhere near a downturn as defined by the NBER.
Maybe the recession will be transitory.
1 comment:
No thoughts about Trump's IRS harassing James Comey and Andrew McCabe? None? Bueller? Bueller?
The GOP's lead in the generic midterm ballot is now down to 0.9%.
That's with gas prices and dementia and inflation and pronouns and COVID and baby formula and grooming and the wrong direction and gaffes and CRT and Democrat-run cities and ice cream and bicycle tumbles and everything else that’s going to restore our country.
That’s also with good ol’ Rasmussen pumping out its weekly “GOP by 10%” and “GOP by 8%” polls that get included in the average.
Not yet factored into the average is today’s result from U.S. Chamber, always an influential pollster in GOP circles. They find the Democrats ahead by 5%.
Today, the Cook Report downgraded their GOP outlook for November. Don't they read Rasmussen?
Post a Comment