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1981 when ronald reagan was president and battling a recession that seemed endless. a guy names paul volcker was hiking interest rates a full percentage point at a team to squash inflation that proved relentless. when indiana jones was the hottest movie in the country and charles and diana, the hottest wedding ticket in the world. back then bacon cost $1.75 a pound. try more like $7 now. coffee was $2.46 a pound. closer to $6 now. a half gallon of ice cream set you back about $2. nearly trip that will today. some perspective on time and prices. lower and slower back then. faster and ...

the former president himself? >> anything is possible. >> all of that, plus the financial world bombshell, 11 musk dropping this last night, trying to get out of buying twitter, and the latest in to free brittney griner from russia. i will talk to the father of trevor reed who was just released from russia few months ago. right now though, across this country, americans are taking to the streets once again to stand up for their beliefs on abortion. in washington, d.c., a rally organized by the women's march organization is underway. organizations are attempting to put -- to protect a...

that prompted the white house to go into a spin overdrive like this. >> you would be amazed if they would declare this period to be a recession, even if two quarters of negative growth. we have a strong labor market and we are creating one of those jobs that is not a recession. >> i think probably. there is so much out of our control to read what inflation is being a global problem. >> brian: in fact, the gas prices coming down in the summer is extraordinarily rare. that is not something we see very often pure they follow every single day since started. that is progress but not enoug...

administration down playing the recession call. there's semantics. what is a recession, how do you technically define it. no matter what, there's widespread agreement no matter who you talk to. that is that economic growth is slowing. the treasury secretary, janet yellen acknowledges as much. but then she maintains that that does not mean a recession is inevitable. >> this is not in an economy that is in recession. but we're in a period of transition in which growth is slowing. and that's necessary and appropriate. we need to be growing at a steady and sustainable pace. >> yellen say...

nation is officially in a recession. something many experts have predicted was coming. john roberts in washington. happy monday to you. >> sandra: i heard booming thunder here in new york city as a storm rolls in. welcome, everyone. i'm sandra smith in new york, this is "america reports." it has now been four days since the president's positive covid test. his doctors say he's doing well and symptoms are almost completely gone. all of this as the white house and president biden's team prepares for another fight. an efforts to redefine what actually constitutes a recession. >> john: t...