‘Soviet-Level Propaganda’: White House Redefines ‘Recession’ Days Before Release of Disastrous GDP Numbers By Jamie White,

[Manuel Tavares]

‘Soviet-Level Propaganda’:
White House Redefines ‘Recession’ Days Before Release of Disastrous GDP Numbers
By Jamie White,
https://rayviolet.blogspot.com/2022/07/soviet-level-propaganda-white-house.html

The Biden White House released a statement redefining what constitutes a recession ahead of an expected GDP report showing a continued decline in the economy for the second quarter.
A recession has generally been defined as a period of negative economic growth for two consecutive quarters.

“While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle,” the White House Council of Economic Advisers wrote in a blog post last week. ...+
https://rayviolet.blogspot.com/2022/07/soviet-level-propaganda-white-house.html