WH Press Secretary Refuses to Define What Is a Recession

Collins Karine two questions ░░░░░░░░ just following up on ░░░░░░░░ you said about the ░░░░░░░░ Bureau of Economic Research ░░░░░░░░ also did not declare ░░░░░░░░ recession in 2008 until ░░░░░░░░ that was 11 months ░░░░░░░░ the recession had already ░░░░░░░░ in place in the ░░░░░░░░ S economy But based ░░░░░░░░ what the President said ░░░░░░░░ have his economic advisers ░░░░░░░░ him they also don ░░░░░░░░ think a recession is ░░░░░░░░ And what is exactly ░░░░░░░░ White House s definition ░░░░░░░░ a recession Jean Pierre ░░░░░░░░ we don t we ░░░░░░░░ t I m not ░░░░░░░░ to define it from ░░░░░░░░ I m just going ░░░░░░░░ leave it to the ░░░░░░░░ as we have stated ░░░░░░░░ how they define recession ░░░░░░░░ So you want declare ░░░░░░░░ until they have declare ░░░░░░░░ one Jean Pierre I ░░░░░░░░ just saying that we ░░░░░░░░ just not going to ░░░░░░░░ it We use the ░░░░░░░░ that the NBER the ░░░░░░░░ Bureau of Economic Research ░░░░░░░░ used We ve mentioned ░░░░░░░░ a few times Going ░░░░░░░░ your question about how ░░░░░░░░ it s late look ░░░░░░░░ think what not even ░░░░░░░░ think What the point ░░░░░░░░ we re trying to ░░░░░░░░ here is that we ░░░░░░░░ a strong labor market ░░░░░░░░ you don t normally ░░░░░░░░ in a recession That ░░░░░░░░ very uncommon to see ░░░░░░░░ When you see an ░░░░░░░░ of 400 000 jobs ░░░░░░░░ per month when you ░░░░░░░░ an unemployment at 3 ░░░░░░░░ which is historical that ░░░░░░░░ not that does not ░░░░░░░░ a recession And so ░░░░░░░░ s what we point ░░░░░░░░ to That s what ░░░░░░░░ re looking at is ░░░░░░░░ the economy is currently ░░░░░░░░ this moment And the ░░░░░░░░ why is because of ░░░░░░░░ work that this president ░░░░░░░░ done because of the ░░░░░░░░ Rescue Plan and turning ░░░░░░░░ on an economy that ░░░░░░░░ in crisis when he ░░░░░░░░ in when 20 million ░░░░░░░░ were collecting unemployment benefit ░░░░░░░░ and now we have ░░░░░░░░ historic job job creation ░░░░░░░░ so that is important ░░░░░░░░ s not forget about ░░░░░░░░ bipartisan infrastructure law as ░░░░░░░░ that has helped create ░░░░░░░░ Collins I just want ░░░░░░░░ be clear though So ░░░░░░░░ re not going to ░░░░░░░░ the White House say ░░░░░░░░ there is a recession ░░░░░░░░ there is one until ░░░░░░░░ National Bureau of Economic ░░░░░░░░ has declared it one ░░░░░░░░ Pierre What I m ░░░░░░░░ is that the definition ░░░░░░░░ the technical definition and ░░░░░░░░ Yellen said this yesterday ░░░░░░░░ Meet the Press is ░░░░░░░░ National Bureau of Economic ░░░░░░░░ that looks at a ░░░░░░░░ range of data in ░░░░░░░░ whether or not there ░░░░░░░░ a recession and most ░░░░░░░░ that data they look ░░░░░░░░ right now continues to ░░░░░░░░ strong So who that ░░░░░░░░ s who we look ░░░░░░░░ I m not going ░░░░░░░░ get into a hypothetical ░░░░░░░░ now we don t ░░░░░░░░ don t do that ░░░░░░░░ we re using that ░░░░░░░░ as clearly an indicator ░░░░░░░░ bailey out how how ░░░░░░░░ get to that how ░░░░░░░░ get to that definition ░░░░░░░░ Okay.”