Watch Treasury Secretary Janet Yellen talk live about the state of the U.S. economy

Economy

[The stream is slated to start at 1:30 p.m. ET. Please refresh the page if you do not see a player above at that time.]

Treasury Secretary Janet Yellen speaks Thursday at a news conference on the state of the U.S. economy.

Yellen’s comments follow news that the U.S. economy contracted for the second consecutive quarter from April to June, according to an advance estimate from the Bureau of Economic Analysis. Gross domestic product declined 0.9% at an annualized pace for that period. The economy shrank by 1.6% in the first quarter.

Though many people interpret two back-to-back negative GDP readings as a recession, the National Bureau of Economic Research is the organization in charge of making that determination. Multiple factors, including nonfarm payrolls and real personal consumption expenditures, weigh into whether the NBER would call a recession. It could be months before NBER makes a judgment.

Read more:
GDP fell 0.9% in the second quarter, the second straight decline and a strong recession signal
The economy may look like it’s in recession, but we still don’t know for sure
Powell and earnings are combining to produce a powerful mid-summer move — bear market rally or not

Subscribe to CNBC on YouTube. 

Articles You May Like

More on White House ordering a halt to federal loans, grants
NZD/USD Price Analysis: Pair extends gains and settled around 0.5705, momentum builds
The AUDUSD has moved above a key swing today & it gives buyers some control into new week.
Chinese equities jumping on all the supportive new policies
Dollar Softness Continues as Forex Markets Tread Calm Waters

Leave a Reply

Your email address will not be published. Required fields are marked *