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Is the US in a Recession? Depends on Whom You Ask in Washington

  • For many Americans, pain of dreaded ‘R-word’ is already here
  • Republicans seize chance to bash Democrats ahead of midterms
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WATCH: Gross domestic product fell at a 0.9% annualized rate after a 1.6% decline in the first three months of the year.Source: Bloomberg
Updated on

The usually staid quarterly report on US gross domestic product ignited a tense political-messaging fight in Washington on Thursday, with Republicans calling a recession and the White House begging to differ.

The reality: Americans are already feeling it.