President Joe Biden hopes to persuade the public that the United States is not about to enter a recession in light of this week’s possibly dire assessment on the state of the economy.
New gross domestic product estimates will be made public this week by the Department of Commerce.
Leading projections, including GDPNow from the Atlanta Federal Reserve, indicate that the number will be negative for the second consecutive quarter,
indicating that the nation is locked in a downturn.
In my opinion, we won’t be in a recession, Biden declared this week. I’m hoping that instead of this quick expansion, we have sustainable growth.
There is not a recession when you’re producing about 400,000 jobs a month, Treasury Secretary Janet Yellen said on NBC’s Meet the Press on Sunday.
