Peter Baker

@peterbakernyt ↗

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Last Checked Sept. 2, 2022

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Thu Jul 28 12:44:57 +0000 2022

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Peter Baker @peterbakernyt

GDP fell 0.2% in the 2nd quarter, the equivalent of an 0.9% annual rate of decline. That followed a contraction of 0.4% in the first quarter, meaning that by one common but unofficial definition the economy has entered a recession. @bencasselman https://t.co/Qtsx0NvYc0 — PolitiTweet.org

Posted July 28, 2022

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Peter Baker @peterbakernyt

Biden call with Xi is scheduled to start now. Lots of friction points as well as a domestic context for the Chinese as Xi faces a critical party Congress in the fall with a weakening economy and unpopular covid policy. https://t.co/2ggyrSaO6x — PolitiTweet.org

Posted July 28, 2022

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Peter Baker @peterbakernyt

In statement, Biden says 2nd quarter of economic contraction is no surprise coming off post-pandemic boom as Fed tries to rein in inflation. "But even as we face historic global challenges, we are on the right path and will come through this transition stronger and more secure." — PolitiTweet.org

Posted July 28, 2022