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
bill: i have two points. on the jobs claim, let s take the number for today. over the past week it has been clear you guys have been playing games with word definitions. why was that the case? i m sorry, why was what the case? bill: can you hear me okay? yes. bill: it seems from the outset you were all over the board on the definition of a recession. why were you playing that game? it is not a game. there is a technical thing called a recession and the definition is as i ve described it. what matters most is i m happy to debate the technical aspects all day. consumer spending up, industrial production up, real income up. happy to debate those all day. that s what technical group. american households. how are they doing? when it comes to inflation