June 28, 2022

MONDAY: US is already in a ‘soft’ recession: Economist Stephen Moore.

Moore, a visiting fellow at the Heritage Foundation, provided the insight on “Varney & Co.” Monday, reacting to former Treasury Secretary Larry Summers contradicting President Biden on Sunday by saying that a recession was “almost inevitable” in the next two years.

Summers provided the insight speaking on Bloomberg’s “Wall Street Week,” noting that there was a risk a recession could come sooner.

However, last Monday, President Biden said that there was “nothing inevitable about a recession,” and that he talked to Summers that morning.

Moore noted on Monday that he didn’t agree with Biden nor Summers and that he believed the U.S. was already in a mild recession.

VodkaPundit, two weeks ago: U.S. Economy Technically Enters Recession. “It’s recession time — a mild one, so far — as the U.S. economy grew at a zero-point-zero annual rate this quarter after shrinking slightly during the first three months of the year.”

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