get out the dictionary. we ll define recession for you. here is the bottom line. the biden economy is shrinking as the fed unleashes rapid fire rate hikes to stave off the highest inflation in 40 years. let s get right to it. maria bartiromo joins us now. go ahead and give us the news because they projected .5% on the positive side. the number was a negative .9. we are now in recession and we can confirm that because it is two quarters straight of contraction. the economy shrank in the second quarter by 9/10 percent on top of shrinking in the first quarter by 1.6%. now so far all of the commentary that i m hearing is talking about a shrinking of the economy but the good news for the economy is that job growth has stayed strong. that was why some people were questioning well maybe it is different this time. it is hard to believe that job growth can be up to 300,000 in one month when you are in a recession. what s different this time is that we have an inventory build-up. a l
As a storm introduces heavy rain and severe gales in some parts of the country. Details later. President biden will visit israel tomorrow, in a show of support after more than moo people were killed by gunmen from hamas, a group designated as a Terror Organisation by many western governments, including the uk. The trip was announced by the us secretary of state, Anthony Blinken, who also revealed that israel and the us had agreed to develop a plan to get aid to civilians in gaza. Un agencies have warned of a deepening humanitarian crisis in the territory, where more than 2,700 people have been killed by israeli air strikes. Our middle east correspondent Yolande Knell has the latest. Israel says it is hitting hamas targets as barrages of rockets are still fired from gaza. But a world leader is heading this way. I wednesday, President Biden will visit israel. He is coming here at a critical moment for israel. For the region and for the world. Itruiith critical moment for israel. For the
In the waning days of the Cold War US Secretary of State James Baker made a solemn vow to Mikhail Gorbachev that NATO would not expand “one inch eastward” beyond a reunited Germany, a promise that was broken in just nine years. Now Russian leaders feel vindicated as the rest of the world is waking up to the increasingly capricious and self-serving nature of 21st-century US foreign policy.
A couple of weeks ago, I was driving home in my three-cylinder Mitsubishi, its miserable 1.2-liter three-pot buzzing as loudly as ever when a vaguely fam.