US economy in recession since February, ending 128 months economic growth

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US economy in recession since February, ending 128 months economic growth

US Economy in Recession since February, Ending 128 Months of Economic Growth.

Image Source: Twitter

US economy in recession since February, ending 128 months of economic growth. Trump accused of improper handling of the economy and his incompetence.

US economy was officially announced under a recession in February. This ended the long 128 months of economic growth. Joe Biden blamed President Trump for his incompetence and negligence in handling the economy.

Trump said, the economy has progressed and is heading in the right direction. He said Dow and S&P jumped to a record high.

The details of the recession and economic dip were disclosed by the National Bureau of Economic Research.

A recession ends when employment and output start to pick up again, so it’s possible that the recession could technically end soon. U.S. employers added 2.5 million jobs in May, but most economists expect a full recovery could take two years or more.

Biden says Trump “inherited the longest economic expansion in history from the Obama-Biden administration” and “squandered it”, citing the official declaration that the U.S. entered a recession just as the coronavirus was starting to take hold in February
News Source: Twitter

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