Biden Says GDP Growth Undercuts ‘Doomsayers’ Ahead of Midterms

The latest US economic data shows that the economy “is continuing to power forward” and is not in a recession, President Joe Biden said.

“For months, doomsayers have been arguing that the US economy is in a recession and Congressional Republicans have been rooting for a downturn,” Biden said in a statement Thursday. “We need to make more progress on our top economic challenge: bringing down high prices for American families.”

Council of Economic Advisers Chair Cecilia Rouse talks about the GDP report.

Source: Bloomberg

US gross domestic product rose at a 2.6% annualized rate in the July to September period after falling for the first two quarters, data released Thursday show. The ...