Treasury Secretary Janet Yellen doubled down on her claim that the US economy is not in a recession — despite the fact that the latest GDP report showed its second straight quarterly decline.

Yellen said experts “should avoid a semantic battle” when discussing the US economy, even as the White House on Thursday scrambled to push back against the widely held view among economists that two straight quarters of GDP declines are the definition of a recession.

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https://nypost.com/2022/07/28/yellen-denies-us-recession-as-gdp-drops-for-2nd-straight-quarter/ 

Well now it’s official, we have a recession.

Inflation is rising and economic growth is negative for two quarters. I feel like there’s a name for that…

HockeyDad wrote:

Apparently the definition of a Recession is…… transitory.

8trackdisco wrote:

Amazon layoff: 18,000

HockeyDad wrote:

Yet somehow it won’t affect the HQ2 being built in Arlington, VA….wonder why?

“We have hired more than 5,000 corporate and tech roles at HQ2 to date and there is no impact to HQ2’s phase 1 (Met Park) which is on track to open in 2023,” an Amazon spokesperson said.
In order to receive more than $550 million of cash incentives, Amazon pledged to create 25,000 jobs in Arlington.

JGKAMIN wrote:

You guys know the only real Biden Recession is his hair line, right?

Brewha wrote:

You guys know the only real Biden Recession is his hair line, right?

Brewha wrote:

Yeah, the President is most directly responsible for the economy. SURE - that’s the ticket!

Brewha wrote: