Page 16 - Gdp Data News Today : Breaking News, Live Updates & Top Stories | Vimarsana

When central banks stop tightening will depend on a tough-to-estimate neutral rate that can keep economies on an even keel

We were talking about that gdp data showing it consecutive quarter of contraction in the u.s. economy. typically that's considered a recession. but the white house really pushed back on that, saying there's strong job growth continuing to this day, that's why they're saying it's not a recession. when you add that to the legislation that they're passing now, some of the economic winds, it allows the president to do more of what he outlined yesterday. saying that we're taking care of some of the short term challenges that are primarily about inflation, gas prices. we've also seen gas prices come...

Actually falling. it creates some questions about where we really are in the cycle. we're pretty late cycle here, no doubt, but having said that, this is quite good news. as i said earlier -- and you'll pardon my dogs barking in the background. this -- my poodles are in the background. >> late in the cycle, what does that mean? >> the economy has grown pretty well. the gdp data notwithstanding. there were so many quirks in the numbers in the first and second quarter that the dollar value of gdp has been quite strong. when you adjust for inflation, we got the two negative numbers back to back. ...

These refrts are long overdue and congress should pass it immediately. this context, including the successes over the last year and the global challenges we face, is critical in understanding today's gdp data. most economists and most americans have a similar definition of recession. substantial job losses and mass lay you haves, businesses shutting down, private sector activity slowing considerably, family budgets under immense strain, in some a broad-based weakening of our economy. that is not what we're seeing right now when you look at the economy. job creation is continuing. household fin...

The u.s. probably has to give more. i agree with yamiche it's the right thing to do but it's a harder thing to do. >> thank you all for your time. still to come, economic slowdown. why the new gdp data out this morning is raising fears of a recession. jared bernstein from the white house council of economic advisers joins us next. plus, the deal that caught just about everybody by surprise. how senators joe manchin and chuck schumer got to that big spending agreement. what it does and what it means for democrats' chances in the midterms. crats' chances in the midterms when you have technol...