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steve: she does. ainsley: definition of recession is two negative quarters back to back. he disagreed with her. listen. i covered the economy for many years. i was told by everybody i spoke to that two negative quarters, to contracting quarters means that the economy is in a recession. do you believe that? is that what you ascribe to? that is not the actual definition of a recession. it is a significant contractionary period over a few months where those who make that determination look at a lot of different factors, particularly the jobs market. the evidence is strong we re not in a recessionary period. and that in fact, in the face of a very rough global economy, 9 u.s. economy is showing special resistance. ainsley: she asked him about the the washington post article as well. that was her final question. she got that in before the interview was concluded. she said do you agree with the the washington post should ....
Janet yellen is starting to hedge on what the definition of a recession is. with that, we bring in neil cavuto from your world. always good to have you with us. neil: thanks, martha. martha: so, you know, this is what we re seeing this week. a lot of earnings reports coming in. a lot of economic reports that will give us a good indicator of how things are going out there and we re seeing a spin on what is or isn t a recession from the white house on some of the sunday shows. what is your take? wouldn t be the first administration if bad news is coming to replay it. but there s ways to replay it. the classic definition of a recession is you have two back-to-back contracting quarters. economic growth is going south. it s not going north. we were down 1.6% in the first quarter. it s all over the map here, but likely did decline. some have it falling a similar amount, 1.6%. there s outliers. ....
Observer of the market reconcile those two things, the economy 7 million job openings, 3.2% nonsupervisory year over year wage growth best in 10 years. corporate profits at all-time record. how do we get that and get what we saw in october and we are already experiencing in november? i think the market is simply forward-looking and has been pretty much forever. just, remember, germany and japan just announced contracting quarters yet europe topped out months and months and months ago. i suspect you are going to see in the next quarter our numbers head south, too. i don t think we are going in any type of recession. when you are pryceed to perfection especially in the nasdaq and nasdaq types. you will get hit on any slowdown. let me be clear, demand is down, inventory is up. you have to clear that inventory and a whole host of technology companies before things can get going again. so i think this is going to go on at least into the first quarter and we will reevaluate. leave no doubt ....