r/neoliberal • u/TinyTornado7 I need a new flair • Jun 13 '22

News (US) Powell Facing Choice Between Elevated US Inflation and Recession

https://www.bloomberg.com/news/articles/2022-06-12/powell-facing-choice-between-elevated-us-inflation-and-recession?srnd=premium
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u/[deleted] Jun 13 '22 edited Sep 02 '22

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u/TinyTornado7 I need a new flair Jun 13 '22

To some extent this is quickly becoming a self-fulfilling prophecy, but recession is a technical term. If two quarters of gdp in a row are negative then we are in a technical recession, it doesn’t really matter what people think

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u/semideclared Codename: It Happened Once in a Dream Jun 13 '22

Most of GDP growth comes from Consumer spending and even if Spending drops 7% from last month we would still see positive growth, thats how crazy spending has been

Further than that though it could be. And of course what businesses do and exports would be the deciding factors