DeAngelis slams Biden as GDP report indicates recession: You cannot change where we are right now
FOX Business correspondent Jackie DeAngelis discussed why the GDP report is not surprising and how stagflation can impact the economy moving forward on 'Outnumbered.'
FOX Business correspondent Jackie DeAngelis warned Thursday "you cannot change the definition of where we are" as the GDP indicates the U.S. economy is in a recession after shrinking for two consecutive quarters. DeAngelis discussed the state of the economy and how Americans have battled rising consumer prices as inflation soars on "Outnumbered."
JACKIE DEANGELIS: Americans across the country are struggling with higher gas prices, higher food prices, higher cost of goods and services across the board. They are struggling to make ends meet and put food on the table, literally. That's the point that we're getting to. So every economist that you talk to, every market watcher said we are already in a recession and that's how people feel. The polls reflect it as well and that's the sentiment throughout the country. So he can get on TV right now and say that he's not surprised that we're in some sort of slowdown. And that's all this is. And it's nothing to be worried about. But the reality is you cannot change the definition of where we are right now. And as you said, people feel it. They feel it in their families, and you see it in the stock market. SmartMoney has been predicting this for some time, not just in the stock market, but the bond market as well.
WATCH THE COMPLETE SEGMENT FROM "OUTNUMBERED" BELOW:
Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox