Posted by Hải Âu (73..162.32) on July 24, 2022 at 11:44:20:
In Reply to: Re: Market next week ... 2 Mikey posted by :) on July 22, 2022 at 18:40:41:
U.S. GDP shrank at a 1.6% annual rate in the first quarter, and a report on Thursday is expected to show a gain of just 0.4% in the second quarter, according to economists polled by Reuters.
Yellen said that even if second quarter figure is negative it would not signal that a recession has taken hold, given the strength in the job market and strong demand.
"Recession is broad-based weakness in the economy. We're not seeing that now," she said.