White House Rejects Fed Staff Outlook, Says No Sign of Recession
- Fed minutes show staff expect ‘mild recession’ later this year
- Biden spokeswoman says jobs, consumer data indicate otherwise
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The White House said Thursday that data does not indicate a US recession is on the horizon, rebuffing Federal Reserve staff economists who forecast a minor contraction starting later this year.
White House Press Secretary Karine Jean-Pierre said job numbers and consumer spending are strong and chalked it up to President Joe Biden’s economic plans, waving off a recession risk.