(NAFB) There’s a lot of debate throughout the U.S. about whether the country is in a recession. Last week, a report showed the GDP dropped another nine-tenths of a percentage point in the second quarter of this year. The second quarter shows a drop in GDP, and many economists say it’s a sign of a possible recession. The Federal Reserve also hiked the interest rate another 75 basis points.
Jared Bernstein of the White House Council of Economic Advisers says the U.S. economy is going through a “transition. ‘
The administration is happy to see gas prices lowering recently, but he also says there’s more to do yet.
While inflation is still too high, Bernstein says some good economic news exists.
Is the U.S. in a recession?
Jared Bernstein of the White House Council of Economic Advisors.
—————————————————————————–
Submitted by Chad Smith on Mon, 08/01/2022 – 11:21
Source: FBRD (Farm Broadcaster)
Audio provided by Brent Adams, Rural Strong Media, Charlestown, Indiana
Audio with Jared Bernstein, White House Council of Economic Advisers
Saturday Morning News
