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US is not in recession or pre-recession-White House

US is not in recession or pre-recession-White House

Reuters · 07/27/2022 16:37
US is in recession or pre-recession-White House

- The United States is currently in a recession or in a "pre-recession," the White House said on Wednesday as the Federal Reserve Board raised interest rates to try to fight inflation.

White House press secretary Karine Jean-Pierre declined to comment on Fed monetary policy after the Fed raised rates by three quarters of a percentage point.



(Reporting by Trevor Hunnicutt and Steve Holland)

((Steve.a.holland@thomsonreuters.com; www.twitter.com/steveholland1; 202 898 8300; Reuters Messaging: steve.holland.reuters.com@reuters.))