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Gross domestic production (GDP) came in hot in the second quarter, growing at a 2.4 percent rate that marked the fourth straight quarter of positive growth and underlining the resilience of the U.S. economy. Economists polled by Bloomberg had been expecting GDP growth of around 1.8 percent, meaning the 2.4 percent growth was a…
“GDP revised up to 2.9% for third quarter” Despite high interest rates and chronic inflation, the US economy grew at a 2.9% annual rate from July through September, the government said Wednesday in a healthy upgrade from its initial estimate. Last quarter’s rise in the gross domestic product — the economy’s total output of goods…
The Hill’s Morning Report — Biden, GOP fish for votes with economic bait President Biden on Thursday sharpened his warnings to voters: If Republicans are in charge in Congress, GOP “trickle-down” economic policies will raise costs for American families and “make inflation worse.” “When I took office, the economy was in ruins,” he said during…
Why the GDP rebound isn’t soothing recession concerns U.S. economic growth rebounded sharply during the third quarter, according to data released by the Commerce Department on Thursday, rising at an annualized rate of 2.6 percent and proving that the U.S. has avoided a recession thus far. But beneath a strong headline number were several warning…
“White House takes heat after Biden adviser accused of ‘redefining recession’” The White House was accused of “redefining” the word “recession” on Wednesday after 2008 comments from the current-White House economic adviser resurfaced — appearing to counter his remarks on the matter just this week. On Tuesday, Brian Deese insisted that “two negative quarters of…
“Dow soars 500 points as stock market recovers from slump” Wall Street continued its recovery from a seven-week losing streak on Thursday as investors seized on apparent signs that the worst of sky-high inflation may be over. The Dow Jones Industrial Average rose 516.91 points, or 1.6%, to 32,637.19 and the Nasdaq rose 2.9%. The…
“We need economic vision, not Joe Biden’s nonsense” “No one is predicting a recession now,” President Joe Biden fibbed Thursday, though “there may be recession in 2023.” In fact, America’s already at the brink, as the US economy shrank in the first quarter of 2022, contracting by an ugly 1.4% — the first such drop…
“Heading for a midterm rout, Biden is doubling down on his failures” As Joe Biden’s Hindenburg of a presidency continues its fiery descent into historically low popularity, the whiz kids at the White House think they have a solution. Their answer, amazingly, seems to be to double down on their cavalcade of failed policies and…
“Stagflation is staring Biden in the face — but he refuses to change course” First we were told inflation was imaginary. Then we were told it was “transitory,” the result of COVID-inflicted supply-chain problems. Then we were told it was Russian President Vladimir Putin’s fault. Now people are starting to admit the massive runaway spending of the Biden…