interest rates in hopes of slowing inflation. and this morning, a key report could provide a better outlook on our economy s health. meanwhile on capitol hill, senator joe manchin finally agrees to a major deal on climate, health care, and taxes, and we ll break down what s in that reconciliation package. and potential prisoner swap for brittney griner, the state department says there s a substantial offer to bring the wnba star, and another american, back home. good morning, and welcome to way too early on thursday, july 28th. i m jonathan lemire. thanks for joining us. after nearly a year of, a year and a half of on and off negotiations, democratic senator joe manchin says he has reached a deal with party leaders on a sweeping reconciliation package. in a statement yesterday, that surprised even most democrats on the hill, the west virginia lawmakers announced an agreement on what is being called the inflation reduction act of 2022. writing in part this, this bill
u.s. futures point to a little bit of profit taking this morning and clearly there is a lot of uncertainty. yesterday, it was all about the fed. today, all about the second quarter gdp. that s going to be released later this morning. and white house watching it nervously, we ve had a lot of debates over what exactly a recession is. what are economists expecting to see later today? well, you make a really excellent point, john about, this debate over what actually constitutes a recession. if we do get a negative, a contraction in gdp today, it doesn t necessarily mean the u.s. is in a recession. that is what many economists would say. and look out for the headlines and understand it is a little more nuanced for that, a technical recession is defined as two consecutive quarters in gdp contraction but in the u.s., the national bureau of economic research actually makes that determination, whether or not the u.s. is in recession, based on a broad range of factors. the other thing to be
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