The White House Cites Strong Data to Insist the U.S. is Not in Recession

Amidst interest rate hikes and uncertainty abounding regarding the next move of the Federal Reserve, the White House has cited strong data to insist that the U.S. is not in a recession. Despite recent headlines, the White House on Thursday looked to set the record straight on the state of the U.S. economy and said the U.S. is not in a recession.

“We are not in a recession. I want to be really, really clear on that,” President Joe Biden’s top aide told MSNBC in an interview when asked what the White House is doing. This strong statement comes even after gross domestic product contracted for two consecutive quarters, a marker that usually raises concerns. The White House insists the U.S. economy is not facing a recession, highlighting positive indicators and a robust job market.

The United States is not in a recession, White House chief of staff Ron Klain said on Thursday, adding that economic data showed the nation's economy was solid. Recent economic data indicates the U.S. isn’t in a recession, a top White House economist said Tuesday, as he cited what he called momentum to keep the country out. WASHINGTON—The White House responded to second-quarter negative GDP growth with a full slate of events and a well-coordinated message: Despite what you might hear, everything is alright.

Why it matters: By most measures, the world's largest economy remains comfortably in expansion mode, but the White House is seeking to preempt heightened anxieties and ensure public confidence. The White House Ap “ It’s no surprise the leftovers of Biden’s economic disaster have been a drag on economic growth, but the underlying numbers tell the real story of the strong economy. The White House's position remains firm: “We are not in a recession. I want to…” reassure the public and emphasize the positive aspects of the current economic climate.