White House prepares for bad economic news

White House prepares for bad economic news

The White House is frantically working both behind the scenes and in the open to prepare for a potentially devastating economic blow that might allow Republicans to claim that the “Biden recession” has begun.

A report due out on Thursday is predicted by Wall Street analysts, economists, and even some members of the Biden administration to show that the economy declined for a second consecutive quarter, matching a traditional definition of a recession, but this is by no means the only one.

Senior administration officials have taken to the airwaves and are privately arm-twisting reporters to convince everyone who will listen that the economy, which is disliked by most Republicans and Democrats who are tired of inflation, is still strong.

However, White House officials acknowledge that it will be difficult to persuade people given that salaries are being severely slashed by the biggest inflation in forty years, even while the economy continues to create jobs and Americans continue to spend money.

One of Biden’s longest-serving staffers and a member of the Council of Economic Advisers, Jared Bernstein, stated in an interview that “I don’t think any of us are attempting to convince somebody that their opinions about the economy are wrong.” We are attempting to explain things in a much more nuanced manner than most people are receiving from the daily news flow.

#whitehousenews #whitehouselive #whitehousenewstoday #whitehousetoday

Read more Latest Business News , Today Politics Headline , Today Finace News Update ,Latest Social News Update , World News Highlight , Entertainment Latest News , Today Sports News Update , Education Latest Update , Real Estate Today Update