Biden and Yellen say U.S. economy is in state of transition, not recession
U.S. gross domestic product dropped at a 0.9% annualized rate in the second quarter, driven by a decline in consumer spending and private inventories, as well as weaker housing and business investment. The contraction followed the economy shrinking at a 1.6% pace in Q1, translating into two consecutive quarters of negative growth that are typically defined as a recession (though any official decision is left up to NBER). As mentioned on Thursday, the term "recession" is now as charged as the midterm elections in November, and the White House was the latest to weigh in on the matter as it battles other economic headwinds like four-decade high inflation.
Bad news is good news? ![]()
While it's not entirely clear whether a recession has begun, investors are now betting on a slightly more dovish Fed, with a more moderate pace of rate hikes. Slower growth expectations were displayed in the bond market on Thursday, with the 10-year Treasury yield falling below 2.7% for the first time since early April as the economy loses momentum. Meanwhile, stocks continued to build on a post-Fed rally that was triggered by Jay Powell saying a 75 bps rate hike for September was not guaranteed as the central bank sizes up "the data on a meeting-to-meeting basis."
While it's not entirely clear whether a recession has begun, investors are now betting on a slightly more dovish Fed, with a more moderate pace of rate hikes. Slower growth expectations were displayed in the bond market on Thursday, with the 10-year Treasury yield falling below 2.7% for the first time since early April as the economy loses momentum. Meanwhile, stocks continued to build on a post-Fed rally that was triggered by Jay Powell saying a 75 bps rate hike for September was not guaranteed as the central bank sizes up "the data on a meeting-to-meeting basis."
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Jay-Jay : lies from a liar, a life long career liar
efficentupupOP Jay-Jay: relax:(
71562135 : A thief can tell the truth?
Jay-Jay efficentupupOP: truth, I'm perfectly relaxed
70715019 : Who ever vote “Yes” it’s a fucking retard who doesn’t have idea what’s going on in the country
J L80 : Guess the recession doesn't exist, only later to be labeled as "transitory", then to be labeled as "good for the environment" - just like inflation was.
Revelation 6 efficentupupOP: That’s what got us into this trouble, relaxing and letting the worms gain control.
Revelation 6 71562135: He’s a thief and a liar.
Revelation 6 : This is what happens when you put someone with mental health issues and personality disorders in charged of the most powerful country in the world. He’s a flake. I’m surprised he hasn’t be caught beating off in public yet. Or nailing a dog.
Mr Trecherous :
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