Biden says 'no surprise' economy 'slowing down' as economy enters technical recession

Summary by Ground News

President Joe Biden says the nation is "on the right path" despite recession fears. The latest GDP reading comes one day after the Federal Reserve hiked interest rates. The President is scheduled to deliver two speeches related to the economy on Thursday. He will also host a group of CEOs from five major US businesses Thursday afternoon.

2 months ago·Washington, United States

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Reuters

'Doesn't sound like a recession': Biden optimistic despite economy contracting

President Joe Biden tried to soothe Americans' worries about the strength of the economy on Thursday, after new data showed it had contracted for two quarters in a row.

2 months ago·United Kingdom

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USA Today

Biden: Economy slowing down but not in recession

During a meeting with CEOs and business leaders Thursday, President Joe Biden continued to dismiss claims the U.S. is in a recession, pointing to a "historically strong" job market along with robust consumer spending and business investment. (July 28)

2 months ago·United States

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CNN

Biden says nation is 'on the right path' despite latest GDP report fueling recession fears

President Joe Biden said Thursday the nation is "on the right path" despite recession fears fueled by the latest report from the Commerce Department showing the US economy shrank again in the second quarter.

2 months ago·Atlanta, United States

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CNBC

GDP fell 0.9% in the second quarter, the second straight decline and a strong recession signal

Gross domestic product fell 0.9% at an annualized pace for the period, according to the advance estimate.

2 months ago·United States

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The Washington Post

Post Politics Now: Biden rejects claims that U.S. is in a recession

The president spoke following the release of a report showing the nation's gross domestic product shrank for the second quarter in a row.

2 months ago·Washington, United States

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Metro News

Joe Biden finally admits economy is slowing down after US 'enters recession'

The US economy shrank for the second straight quarter, which meets the long-held view of a recession (Pictures: Getty Images)The US has technically entered a recession, as President Joe Biden avoids calling it that but acknowledges that ‘the economy is slowing down’. America’s economy shrank for the second consecutive quarter in the spring, meeting the widely accepted criteria for a recession, according to a report released by the US Department …

2 months ago·London, United Kingdom

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