Economics

Is the US in a Recession? Depends on Whom You Ask in Washington

For many Americans, pain of dreaded ‘R-word’ is already here
Republicans seize chance to bash Democrats ahead of midterms

WATCH: Gross domestic product fell at a 0.9% annualized rate after a 1.6% decline in the first three months of the year.Source: Bloomberg

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By Chris Anstey and Claire Ballentine

July 28, 2022 at 8:36 AM EDT

Updated on

July 28, 2022 at 3:30 PM EDT

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The usually staid quarterly report on US gross domestic product ignited a tense political-messaging fight in Washington on Thursday, with Republicans calling a recession and the White House begging to differ.

The reality: Americans are already feeling it.

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