Pols and Bureaucrats Insist There Is “No Recession”

Pols and Bureaucrats Insist There Is “No Recession” That Doesn’t Change Reality!

THAT DOESN’T CHANGE REALITY! The Fed raised the Federal Funds interest rate (the rate banks pay for reserves) on Wednesday by 75 basis points (bps) (0.75 pct. points) from 1.50% to 2.25%, and on Thursday, the BEA reported real Q2 GDP fell -0.9%.  That’s the second quarter in a row of negative real GDP growth; […]