A Commerce Dept. report showed the U.S. economy shrank again, meeting one – though far from the only – criteria for a recession. Republicans are poised to cast aside all technicalities and bash Democratic candidates up and down the midterm ballot for it.
showed the economy contracted 0.9 percent in the second quarter of the year, offering Republicans a tantalizing opportunity to declare that the economy under President Joe Biden is now in a recession.
But Republicans are poised to cast aside all the economic technicalities and bash Democratic candidates up and down the midterm ballot over an economy that is alreadywith voters in both parties who are seeing prices for gas, food, travel and nearly everything else rise 9 percent, much faster than their own wages. Fresh data on inflation arrives on Friday.
The unemployment rate is near record lows. Job openings remain high and consumer spending is still fairly strong, undermining the case that we are in recession. And the first quarter’s negative numbers were heavily skewed by technical factors on inventories and trade.and could now sink even lower, anchoring the economy as a dead weight on Democrats already widely expected to suffer significant losses in the midterms, particularly in the House of Representatives.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
U.S. economy enters technical recession under Biden—GDP reportEconomy shrinks for second consecutive quarter—a recession by one common but unofficial definition—heaping more pressure on President Joe Biden.
Baca lebih lajut »
GDP likely to show U.S. economy narrowly avoided recession in the second quarterThe economy may have shrunk for the second quarter in a row based on the government's official scorecard, but it doesn't mean the U.S. has already sunk into...
Baca lebih lajut »
Biden–Harris Admin Launches New Solar Initiatives to Lower Electricity Bills & Create Clean Energy JobsBipartisan Infrastructure Law Funding Will Support Solar Energy Careers in Underserved Areas; New Digital Platform Will Make Reliable Solar
Baca lebih lajut »
Google parent Alphabet’s profit slips again after CEO warns of 'economic headwinds'Despite increased revenues
Baca lebih lajut »
US economy shrank 0.9% last quarter, its 2nd straight drop, raising fears of recessionConsecutive quarters of falling GDP constitute one informal, though not definitive, indicator of a recession.
Baca lebih lajut »