US is not in recession or pre-recession – White House

WASHINGTON – The United States is not currently in a recession or in a “pre-recession,” the White House said on Wednesday as the Federal Reserve Board raised interest rates to try to fight inflation.

White House press secretary Karine Jean-Pierre declined to comment on Fed monetary policy after the Fed raised rates by three quarters of a percentage point.

(Reporting by Trevor Hunnicutt and Steve Holland)

Reuters

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