White House Press Secretary Karine Jean-Pierre on Friday said the US economy is in a transition to a more steady growth.
The US is currently in a recession after two back-to-back quarters of negative GDP growth.
The Atlanta Fed predicted the GDP will have NEGATIVE growth for the third straight quarter this year.
The Federal Reserve on Wednesday raised interest rates by another 75 basis points – or 0.75% to ‘fight’ Bidenflation.
The fed funds rate is now in the range of 3% to 3.25% – the highest since 2008.
30-year fixed rate mortgages already hit 6.25% last week.
The DOW Jones Industrial Average opened Friday under 30,000 points as the Biden economy shows its colors.
The DOW opened Friday morning at less than 30,000 points. When Biden took over the markets were above 31,000 points.
The recession is real. Depression is increasingly likely.
However, Biden’s incompetent White House spokeswoman says we are in a transition to a steady and stable growth.
No serious person believes her.
“What we are seeing…is a transition to a more steady and stable growth, and that’s what we’re currently seeing,” Karine Jean-Pierre said.
FBN’s @EdwardLawrence: “So, the [Fed] is saying…the economy will…slow down to growing just 0.2% for the entirety of this year and…1.2% for next year. Is this the stable growth [Biden] is moving us toward?”
KJP: “[W]e’re coming off of last year’s historic economic growth” pic.twitter.com/QxhEJEeGdN
— Curtis Houck (@CurtisHouck) September 23, 2022
The post Karine Jean-Pierre Amid Recession and Rate Hikes: What We Are Seeing Is a Transition to a More Steady and Stable Growth (VIDEO) appeared first on The Gateway Pundit.