{"id":432886,"date":"2022-04-17T02:52:02","date_gmt":"2022-04-16T23:52:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/fears-of-recession-are-everywhere-except-the-white-house\/"},"modified":"2022-04-17T02:52:02","modified_gmt":"2022-04-16T23:52:02","slug":"fears-of-recession-are-everywhere-except-the-white-house","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/fears-of-recession-are-everywhere-except-the-white-house\/","title":{"rendered":"#Fears of recession are everywhere \u2014 except the White House"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d81fcc97fd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d81fcc97fd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/fears-of-recession-are-everywhere-except-the-white-house\/#%E2%80%9CFears_of_recession_are_everywhere_%E2%80%94_except_the_White_House%E2%80%9D\" >&#8220;Fears of recession are everywhere \u2014 except the White House&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CFears_of_recession_are_everywhere_%E2%80%94_except_the_White_House%E2%80%9D\"><\/span>&#8220;Fears of recession are everywhere \u2014 except the White House&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>With prices soaring, labor shortages, the Ukraine war raging, supply-chains snarled and interest rates now set to rise, fears of a looming recession are everywhere. Except, of course, at the White House \u2014 which is in utter denial.<\/p>\n<p>Just as it was over inflation.<\/p>\n<p>\u201c\u2018Inflation shock\u2019 worsening, \u2018rates shock\u2019 just beginning, \u2018recession shock\u2019 coming,\u201d blared Bank of America chief investment strategist Michael Hartnett in a note to clients.<\/p>\n<p>\u201cWe anticipate that a more aggressive tightening of monetary policy will push the economy into a recession,\u201d warns Deutsche Bank\u2019s economists.\u00a0<\/p>\n<p>\u201cThe overheating of the labor market has raised the risk of recession meaningfully,\u201d declares Goldman Sachs chief economist Jan Hatzius.<\/p>\n<p>\u201cRecession in the next couple of years is clearly more likely than not,\u201d warns Clinton Treasury Secretary Larry Summers \u2014 whose prescient alarms on inflation a year ago went unheeded by Team Biden.<\/p>\n<p>One development prompting jitters: Yields on short-term debt have been inching past longer-term debt, signaling investors\u2019 lack of confidence in the economy down the road.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/biden-recession.jpg?w=1024\" alt=\"The Federal Reserve building.\" class=\"wp-image-21921342\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/biden-recession.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/biden-recession.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/biden-recession.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Inflation has risen to 8.5 percent as of March. <\/figcaption><figcaption><span class=\"credit\">Joshua Roberts\/REUTERS<\/span><\/figcaption><\/figure>\n<p>The key problem: The Federal Reserve Board\u2019s drive to tame inflation \u2014 now running at 8.5% a year, the highest since 1981 \u2014 by jacking up interest rates and shrinking its balance sheet runs the risk of squeezing credit, thwarting investment and growth. After months of claiming (like the White House) inflation was \u201ctransitory,\u201d the Fed is now finally tightening, with expected rate hikes totaling as much as perhaps 2 \u00bd points before year\u2019s end.<\/p>\n<p>Add to that lingering pandemic-era supply-chain issues, Russia\u2019s invasion of Ukraine, President Joe Biden\u2019s war on energy and Dems\u2019 tax-and-borrow agenda \u2014 and recession in a year or two starts looking ever more likely. \u00a0<\/p>\n<p>Economist Tara Sinclair compares slowing price hikes without slowing growth to \u201ctrying to land during an earthquake.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/biden-recession-2.jpg?w=1024\" alt=\"A television screen on the floor of the New York Stock Exchange\" class=\"wp-image-21921329\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/biden-recession-2.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/biden-recession-2.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/biden-recession-2.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Federal Reserve is expected to hike rates as much as 2 and a half points before the end of the year. <\/figcaption><figcaption><span class=\"credit\">Richard Drew\/AP<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/recession-6.jpg?w=1024\" alt=\"A hiring sign is displayed at a restaurant in Schaumburg, Illinois.\" class=\"wp-image-21921550\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/recession-6.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/recession-6.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/recession-6.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>A hiring sign is displayed at a restaurant in Schaumburg, Illinois.<\/figcaption><figcaption><span class=\"credit\">Nam Y. Huh\/AP<\/span><\/figcaption><\/figure>\n<p>Indeed, Summers notes that there\u2019s never been \u201ca moment in the United States when inflation was above 4[%] and unemployment was below 4[%]\u201d \u2014 as now \u2014 \u201cand we didn\u2019t have a recession within the next two years.\u201d\u00a0<\/p>\n<p>But the White House is all h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>y talk. Asked if Biden believes Summers is right about recession, as he was about inflation, White House flack Jen Psaki huffed, \u201cThat is not a projection we have made.\u201d And National Economic Council Director Brian Deese claims the administration has \u201cdriven a uniquely strong economic recovery\u201d that \u201cpositions us uniquely well to deal with the challenges ahead.\u201d<\/p>\n<p>Sorry: It was Bidenomics \u2014 the war on energy, Dems\u2019 nearly $2 trillion debt-fueled  American Rescue Plan spending spree \u2014 that sparked Bidenflation in the first place. Now the same cure pretends it\u2019s going to fix its disastrous mistake, even while it sticks to the same course? <\/p>\n<p>Brace for a rocky road ahead.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/04\/16\/fears-of-recession-are-everywhere-except-the-white-house\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Fears of recession are everywhere \u2014 except the White House&#8221; With prices soaring, labor shortages, the Ukraine war raging, supply-chains snarled and interest rates now set to rise, fears of a looming recession are everywhere. Except, of course, at the White House \u2014 which is in utter denial. Just as it was over inflation. \u201c\u2018Inflation&#8230;<\/p>\n","protected":false},"author":1,"featured_media":432887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/biden-recession-3.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[128085,43,70752,70550,70551,70552,991,74132,91261],"class_list":["post-432886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-16-22","tag-editorial","tag-energy","tag-federal-reserve","tag-inflation","tag-interest-rates","tag-joe-biden","tag-prices","tag-recession"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/432886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=432886"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/432886\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/432887"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=432886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=432886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=432886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}