US economic growth accelerates in second quarter; inflation retreats

[EvilEyeFleegle]

Looks like Bidenomics is working? LOL! Just kidding...the President, any President, has nothing to do with the macro-economy. But with inflation retreating and growth accelerating, times might not be as bad as the doomsayers on the Right make it out to be.

US economy defies recession fears with strong second-quarter performance

A resilient labor market supported consumer spending, while businesses invested in equipment and built more factories.

www.reuters.com

• Summary

• Second-quarter GDP increases at 2.4% rate
• Consumer spending slows, but pace still strong
• Business investment picks up on equipment rebound
• Weekly jobless claims fall 7,000 to 221,000

The U.S. economy grew faster than expected in the second quarter as labor market resilience supported consumer spending, while businesses boosted investment in equipment, potentially keeping a much-feared recession at bay.
While the Commerce Department's advance second-quarter gross domestic product (GDP) report on Thursday sketched a picture of sustained strength in domestic demand, inflation subsided considerably last quarter.
That led some economists to believe that the Federal Reserve would not need to raise interest rates beyond this year, but rather keep borrowing costs higher for a while. The U.S. central bank on Wednesday raised its policy by 25 basis points to a 5.25%-5.50% range.
"The economy is more than resilient, solid second-quarter growth shows it has triumphed over the naysayers saying recession was inevitable following the inflation shock and the Fed's aggressive rates stance to stem it," said Christopher Rupkey, chief economist at FWDBONDS in New York.

 

[Conservative from Georgia]

Because as a conservative I always blame Joe Biden when things go bad, I have to be consistent..
Good job, President Biden.

 

[Harpy Eagle]

Damn, Biden cannot even have a recession successfully.

 

[Faun]

Looks like Bidenomics is working? LOL! Just kidding...the President, any President, has nothing to do with the macro-economy. But with inflation retreating and growth accelerating, times might not be as bad as the doomsayers on the Right make it out to be.

US economy defies recession fears with strong second-quarter performance

A resilient labor market supported consumer spending, while businesses invested in equipment and built more factories.

www.reuters.com

• Summary

• Second-quarter GDP increases at 2.4% rate
• Consumer spending slows, but pace still strong
• Business investment picks up on equipment rebound
• Weekly jobless claims fall 7,000 to 221,000

The U.S. economy grew faster than expected in the second quarter as labor market resilience supported consumer spending, while businesses boosted investment in equipment, potentially keeping a much-feared recession at bay.
While the Commerce Department's advance second-quarter gross domestic product (GDP) report on Thursday sketched a picture of sustained strength in domestic demand, inflation subsided considerably last quarter.
That led some economists to believe that the Federal Reserve would not need to raise interest rates beyond this year, but rather keep borrowing costs higher for a while. The U.S. central bank on Wednesday raised its policy by 25 basis points to a 5.25%-5.50% range.
"The economy is more than resilient, solid second-quarter growth shows it has triumphed over the naysayers saying recession was inevitable following the inflation shock and the Fed's aggressive rates stance to stem it," said Christopher Rupkey, chief economist at FWDBONDS in New York.

Another bad day for conservatives.

 

[luiza]

There Is No Such Thing As “Bidenomics”​

The supposed financial progress that Biden is trying to take credit for has nothing to do with Biden’s policies. Not a thing. Unless, of course, you count market manipulation as a positive.

For example, the reduction in CPI is directly related to the continuous interest rate hikes of the Federal Reserve, which Biden has zero control over. The Fed is autonomous and makes its decisions independent of the White House or government. This is a fact openly admitted by former chairman Alan Greenspan. When the fed raises rates, debt becomes more expensive, lending slows down and thus the economy slows down.

One of the only ways that Biden can influence CPI is through artificial deflation of energy prices. The Biden Administration has been dumping US strategic oil reserves on the market for the past year as a means to suppress oil prices, thereby directly and indirectly keeping the CPI numbers down. This is not progress, it’s economic fraud.

The misuse of stats extends to other sectors, such as Biden’s attempt to take credit for the recent reduction in the US deficit. Again, this has nothing to do with Biden; the Fed’s interest rate hikes make it more expensive for the government to take on debt, therefore, debt spending drops.

 

[Faun]

There Is No Such Thing As “Bidenomics”​

The supposed financial progress that Biden is trying to take credit for has nothing to do with Biden’s policies. Not a thing. Unless, of course, you count market manipulation as a positive.

For example, the reduction in CPI is directly related to the continuous interest rate hikes of the Federal Reserve, which Biden has zero control over. The Fed is autonomous and makes its decisions independent of the White House or government. This is a fact openly admitted by former chairman Alan Greenspan. When the fed raises rates, debt becomes more expensive, lending slows down and thus the economy slows down.

One of the only ways that Biden can influence CPI is through artificial deflation of energy prices. The Biden Administration has been dumping US strategic oil reserves on the market for the past year as a means to suppress oil prices, thereby directly and indirectly keeping the CPI numbers down. This is not progress, it’s economic fraud.

The misuse of stats extends to other sectors, such as Biden’s attempt to take credit for the recent reduction in the US deficit. Again, this has nothing to do with Biden; the Fed’s interest rate hikes make it more expensive for the government to take on debt, therefore, debt spending drops.

Shouldn't you give Brandon props if you're gonna plagiarize like that?

 

[John Edgar Slow Horses]

biden cannot even bring in a baby recession.

GOP will take it in the butt next year's elections.

 

[Natural Citizen]

​

For example, the reduction in CPI is directly related to the continuous interest rate hikes of the Federal Reserve, which Biden has zero control over. The Fed is autonomous and makes its decisions independent of the White House or government.

Year-over-year, CPI increased by 3%. This, of course, was celebrated but in reality a 3% ''acceptable standard'' (and that's what mainstream media financial pundits are trying to establish as the narrative) would decrease purchasing power by well over 30% over the mere course of a decade. Probably closer to 35% loss of purchasing power. That's on top of the current devaluation of currency/purchasing power.

 

[luiza]

Shouldn't you give Brandon props if you're gonna plagiarize like that?

There Is No Such Thing As “Bidenomics”​

The supposed financial progress that Biden is trying to take credit for has nothing to do with Biden’s policies. Not a thing. Unless, of course, you count market manipulation as a positive.

For example, the reduction in CPI is directly related to the continuous interest rate hikes of the Federal Reserve, which Biden has zero control over. The Fed is autonomous and makes its decisions independent of the White House or government. This is a fact openly admitted by former chairman Alan Greenspan. When the fed raises rates, debt becomes more expensive, lending slows down and thus the economy slows down.

One of the only ways that Biden can influence CPI is through artificial deflation of energy prices. The Biden Administration has been dumping US strategic oil reserves on the market for the past year as a means to suppress oil prices, thereby directly and indirectly keeping the CPI numbers down. This is not progress, it’s economic fraud.

The misuse of stats extends to other sectors, such as Biden’s attempt to take credit for the recent reduction in the US deficit. Again, this has nothing to do with Biden; the Fed’s interest rate hikes make it more expensive for the government to take on debt, therefore, debt spending drops.

 

[Faun]

There Is No Such Thing As “Bidenomics”​

The supposed financial progress that Biden is trying to take credit for has nothing to do with Biden’s policies. Not a thing. Unless, of course, you count market manipulation as a positive.

For example, the reduction in CPI is directly related to the continuous interest rate hikes of the Federal Reserve, which Biden has zero control over. The Fed is autonomous and makes its decisions independent of the White House or government. This is a fact openly admitted by former chairman Alan Greenspan. When the fed raises rates, debt becomes more expensive, lending slows down and thus the economy slows down.

One of the only ways that Biden can influence CPI is through artificial deflation of energy prices. The Biden Administration has been dumping US strategic oil reserves on the market for the past year as a means to suppress oil prices, thereby directly and indirectly keeping the CPI numbers down. This is not progress, it’s economic fraud.

The misuse of stats extends to other sectors, such as Biden’s attempt to take credit for the recent reduction in the US deficit. Again, this has nothing to do with Biden; the Fed’s interest rate hikes make it more expensive for the government to take on debt, therefore, debt spending drops.

Why on Earth would you repeat it 4 posts later? You must be brain damaged.

 

[Conservative from Georgia]

Looks like Bidenomics is working? LOL! Just kidding...the President, any President, has nothing to do with the macro-economy. But with inflation retreating and growth accelerating, times might not be as bad as the doomsayers on the Right make it out to be.

US economy defies recession fears with strong second-quarter performance

A resilient labor market supported consumer spending, while businesses invested in equipment and built more factories.

www.reuters.com

• Summary

• Second-quarter GDP increases at 2.4% rate
• Consumer spending slows, but pace still strong
• Business investment picks up on equipment rebound
• Weekly jobless claims fall 7,000 to 221,000

The U.S. economy grew faster than expected in the second quarter as labor market resilience supported consumer spending, while businesses boosted investment in equipment, potentially keeping a much-feared recession at bay.
While the Commerce Department's advance second-quarter gross domestic product (GDP) report on Thursday sketched a picture of sustained strength in domestic demand, inflation subsided considerably last quarter.
That led some economists to believe that the Federal Reserve would not need to raise interest rates beyond this year, but rather keep borrowing costs higher for a while. The U.S. central bank on Wednesday raised its policy by 25 basis points to a 5.25%-5.50% range.
"The economy is more than resilient, solid second-quarter growth shows it has triumphed over the naysayers saying recession was inevitable following the inflation shock and the Fed's aggressive rates stance to stem it," said Christopher Rupkey, chief economist at FWDBONDS in New York.

Thank you Joe Biden.

 

[Faun]

Thank you Joe Biden.

4.9% growth??

Yet more good news for America but bad news for conservatives.

 

[JimH52]

4.9% growth??

Yet more good news for America but bad news for conservatives.

And trump boasted about his economic plan. Bidenomics is Smoking!

All the while trump is still lying about being cheated three years ago. The man needs to grow a brain.

 

[JimH52]

Remember this?

Trump triumphant: 'We're going to go a lot higher' than 4.1% GDP growth

Earlier Friday the government announced that the economy grew in the second quarter at the fastest pace in nearly four years. The nation's GDP grew 4.1 percent, in line with estimates.

www.cnbc.com

But this happened.

What is the GDP of Trump administration?

In Q3 2020, GDP partially recovered to $18.6 trillion, an increase of $1.3 trillion or 7% from the trough (33.1% annualized). Measured from Q4 2016 to Q3 2020, GDP increased by $0.7 trillion or 4%, which represented an annualized average growth rate of 1.0%, the slowest among post-WW2 Presidents.

 

[Faun]

Remember this?

Trump triumphant: 'We're going to go a lot higher' than 4.1% GDP growth

Earlier Friday the government announced that the economy grew in the second quarter at the fastest pace in nearly four years. The nation's GDP grew 4.1 percent, in line with estimates.

www.cnbc.com

But this happened.

What is the GDP of Trump administration?

In Q3 2020, GDP partially recovered to $18.6 trillion, an increase of $1.3 trillion or 7% from the trough (33.1% annualized). Measured from Q4 2016 to Q3 2020, GDP increased by $0.7 trillion or 4%, which represented an annualized average growth rate of 1.0%, the slowest among post-WW2 Presidents.

Only post WWII president to leave office with fewer jobs than when he started.

 

[JimH52]

Only post WWII president to leave office with fewer jobs than when he started.

And repubs say....LET'S GIVE HIM ANOTHER CHANCE!?

 

[luiza]

Very nearly time to gather round to watch the Silly Boys try to hide as the banks start to drop and America is plunged into its deepest ever recession .

With a domiono effect , more pronounced in the west .

China and Russia are best prepared to withstand the disaster , but bankrupt countries like the US may need generations to recover -- if they ever can .