Biden Reacts to Latest GDP Report That’s Now Fueling Recession Fears

Biden Reacts to Latest GDP Report That’s Now Fueling Recession Fears
U.S. President Joe Biden delivers remarks on climate change and renewable energy at the site of the former Brayton Point Power Station in Somerset, Mass., on July 20, 2022. Jonathan Ernst/Reuters
Jack Phillips
Jack Phillips
Breaking News Reporter
|Updated:
0:00

President Joe Biden on Thursday responded to a report showing the economy shrank for a second consecutive quarter, which by some definitions, means the United States has technically entered a recession.

The Bureau of Economic Analysis said Thursday that gross domestic product, or GDP, shrunk 0.9 percent at an annualized pace for the second quarter, following a 1.6 percent decline in the first quarter.

Jack Phillips
Jack Phillips
Breaking News Reporter
Jack Phillips is a breaking news reporter who covers a range of topics, including politics, U.S., and health news. A father of two, Jack grew up in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
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