The White House press secretary will hold a press briefing on Tuesday afternoon, joined by economic adviser Brian Deese.
The briefing is scheduled to begin at 3:15 p.m. ET. Watch the event in the player above.
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Faced with a potentially grim report this week on the overall health of the economy, President Joe Biden wants to convince a skeptical public that the United States is not, in fact, heading into a recession.
The Commerce Department will release new gross domestic product numbers on Thursday. Major forecasts such as the Atlanta Federal Reserve’s GDPNow call for the figure to be negative for the second consecutive quarter – an informal signal that the country is stuck in a recession. It’s political buddy for Republicans in an election year.
The Biden administration is preemptively telling voters not to judge the economy solely by GDP or inflation. He says people should look at job gains, industrial production and other measures that point to continued growth, even if Americans are bearish in polls on the economy and Biden. The president maintains that the economy is cooling off just after a strong recovery from the 2020 recession caused by the coronavirus pandemic.
“We’re not going to be in a recession, in my opinion,” Biden said Monday. “Hopefully we will move from this rapid growth to steady growth.”
The specter of a recession could worsen what already appears to be a dismal cycle of midterm elections in November, in which Biden’s Democrats could eventually lose control of the House and Senate. Biden’s team gave technical arguments in a report released last week about how recessions depend on a dashboard of indicators and that only the nongovernmental National Bureau of Economic Research can officially tell when a downturn begin.