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The Biden administration preemptively downplayed concerns about the state of the economy ahead of second quarter GDP growth data. Economic commentators frequently use two consecutive quarters of negative GDP growth as a “rule of thumb” that an economy is in a recession, but President Joe Biden’s economic team argued in a blog post that even if second quarter GDP growth is also negative it is still “unlikely” that that would indicate the economy is in a recession. Patriots, how likely do you think a recession is? Let us know in the form below.
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