Insight - July 28th, 2022
Insight
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28-Jul-2022
Define a recession. Today on Insight, John Rosenstern discusses the Federal Chairman of the Reserve Bank’s statements to Americans over whether the United States is in a recession; despite some confusion, over the definition, Brother John says we are obviously in a recession. We have had two consecutive quarters of decline of the gross domestic product. We see the rise in interest rates has slowed down the demand of goods and services, which has been going on since the beginning of the pandemic more than two years ago. People have less money because of higher prices, and the cost of living is higher than the suggested .9-percent decline that is being reported.
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