A CNN analysis said Monday that President Biden was facing a "moment of truth" this week with regard to the economy as multiple key economic reports are expected to come out this week. The analysis noted a CNN survey that found just 18% of Americans said the economy was in good shape. The White House said Sunday that a second quarter of a negative GDP was "unlikely" to be indicative of a recession. Biden and many of his advisers said the data was "out of date" because gas prices had come down in recent weeks. When inflation has been high and unemployment has been low, soft landings represent a kind of triumph of hope over experience.

Source: Fox News July 26, 2022 03:04 UTC