Sure looks like a recession, with exports remaining the only bright spot in the U.S. economy
We now expect the U.S. has entered its first recession in seven years, as economic activity likely contracted in the first quarter.
The debate should no longer be about whether there is or is not a recession, only about how deep it will be ... Private employment has now fallen for three months in a row, according to today's new data, with the steepest decline in February.
I know this is a difficult time for our economy, but we recognized the problem early and provided the economy with a booster shot ... We will begin to see the impact over the coming months.
We are going to have a weak-growth quarter, and whether you call that a recession or not is something that we won't know for many months