The Biden administration’s preemptive pushback on ‘recession’
Economy And Jobs,Recession,Business,Biden Administration,Joe Biden,Janet Yellen,GDP,Unemployment,Labor
From the Left
AllSides Media Bias Rating: Lean Left
It’s quite possible that, by the end of this week, we could be having yet another hugely important political debate over the definition of a word: “recession.”
The Bureau of Economic Analysis on Thursday is set to release the second-quarter gross domestic product (GDP) numbers. And if they’re negative, that will mark two consecutive quarters in which the economy has contracted — something that is generally understood to mean a recession.
How real and politically sensitive is that possibility? Real enough that the Biden administration is seeking to preempt it.
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