- October 13, 2022
- Posted by: Stratford Team
- Category: Economy
US recession news 2022: US President Joe Biden on Tuesday said that he did not anticipate a recession, but if one did occur, it would be ‘very slight’. “I don’t think there will be a recession. If it is, it will be a very slight recession. That is, we will move down slightly,” he said in an interview with CNN.
Why it matters: Although there is no single definition for what constitutes a recession, researchers generally agree that it occurs when real Gross Domestic Product (GDP) declines for two consecutive quarters. Typically, it has an effect on the economic output, consumer demand and employment.
Biden made the comment at a time when the ruling Democrats have a short window of time to reassure Americans that the economy is still strong with less than 30 days until the midterm elections.
What others saying: In an interview with CNBC on Monday, Jamie Dimon, CEO of JP Morgan, said, “These are very, very serious things that I think are likely to…
