Five in Ten 7/5/22: US Economy in Recession

The Atlanta Fed’s GDPnow measure, which tracks economic data in real time, shows a contraction in the second quarter of 2022 of 2.1%. Following the first quarter’s 1.6% drop, this meets the technical definition of a recession.

5) Biden leads G7 nations in calling for price cap on Russian oil; 4) US economy contracted over first half of year; 3) Yair Lapid takes over as interim Prime Minister of Israel; 2) More rulings from conservative-leaning Supreme Court; 1) New data from Hubble space telescope leads to discovery of “something weird” that NASA researchers can’t explain with current physics.