Tag: US economy

(27 July 2022) What is a recession?  Up to now, economists have defined it as two straight quarters of negative growth.  But if the Biden White House has its way, that could be changing.  Tomorrow's GDP report is expected to deliver a negative Q2 print which would fulfill the definition of a recession since Q1 was also negative.  But this week White House officials such as Treasury Secretary Janet Yellen and even Fed Chair Jerome Powell have suggested that the US is not in a recession and the definition...