US in Recession Based on Common Definition: Chief Economist

Kevin Hogan
By Kevin Hogan
July 29, 2022Businessshare

The GDP report for the second quarter is out. It shows that the U.S. economy is shrinking. President Joe Biden issued a statement Thursday morning. He said it’s no surprise the economy is slowing down after regaining jobs lost during the pandemic and after the economy grew last year. NTD spoke with Vance Ginn, chief economist at the Texas Public Policy Foundation, on what this report means for the state of the economy and what Americans need to know.

ntd newsletter icon
Sign up for NTD Daily
What you need to know, summarized in one email.
Stay informed with accurate news you can trust.
By registering for the newsletter, you agree to the Privacy Policy.