Page 3 - Tara Sinclair News Today

The new figures from the Bureau of Economic Analysis come at a tumultuous time for the economy, due to surging inflation, though economists disagree on the likelihood of a full-fledged slump.

THE BIDEN RECESSION. This morning the Commerce Department announced the economy shrank by 0.9% in the second quarter of 2022. That comes after the announcement last April that the economy contracted by 1.6% in the first quarter of this year. Now, the United States has had two consecutive quarters of negative economic growth, which is the popularly accepted definition of a recession. So it's official: The U.S. is in a recession.

Ahead of a big announcement about second-quarter economic growth, there’s lots of argument about what constitutes a recession.

The U.S. may register a second straight quarter of economic contraction, one benchmark of a recession. But that won’t be the last word.

The notion of what exactly defines a recession is the latest economic fault line as the new GDP numbers approach.

WASHINGTON — As people pay more than ever for everything from bacon to gasoline and the Federal Reserve hikes interest rates in response, some economists say a recession is likely on the horizon, while others say one is already here.

These are the most important indicators economists and forecasters are watching.

These are the most important indicators economists and forecasters are watching.

© Provided by Xinhua Food prices have had the biggest impact on our spending habits and consumer behavior. We buy only items that are on sale and try t

Feature: U.S. households feel price squeeze as inflation hovers at 40-year high-