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Biden Economic Adviser: ‘Our Economy Is in a Period of Transition’

May 23, 2022

Don’t say recession. Call it “transition,” Brian Deese, director of the White House National Economic Council, told “Fox News Sunday.”

Host Martha MacCallum asked Deese if he agrees with those who say the United States is heading into recession in the near term.

(According to the National Bureau of Economic Research, a recession is a “significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.)