Jared Bernstein, a member of President Biden’s Council of Economic Advisers, praised the latest gas price numbers on Wednesday ahead of potentially news of economic dates showing a possible recession. Many are fearing that the report will reveal a second consecutive quarter of economic contraction, signaling the beginning of a recession. BIDEN WHITE HOUSE TALKING POINTS REDEFINING RECESSION QUICKLY EMBRACED BY MEDIA OUTLETSIn light of a looming recession, Bernstein also reminded viewers the "positive news" that gas had officially dropped down to $4.30 per gallon. Several White House employees have boasted about falling gas prices despite still previously topping $4 and reaching almost two dollars higher than the rate when Biden took office. However, Bernstein did acknowledge that he does not consider the gas prices news "a victory lap" but "much-needed breathing room" for Americans.

Source: CNN July 28, 2022 02:25 UTC