Biden scraps Florida trip but will address law enforement group virtually
Today, President Biden’s coronavirus symptoms have “almost completely resolved,” White House physician Kevin C. O’Connor said in a memo released publicly. Biden, who tested positive on Thursday, is experiencing only “some residual nasal congestion and minimal hoarseness,” O’Connor wrote.
As he continues to recover, Biden plans to appear virtually at two events Monday, including an address to the National Organization of Black Law Enforcement Executives. Biden had been scheduled to travel to Florida for the gathering. He also plans to appear before a group of business and labor leaders to promote legislation that would provide subsidies to domestic semiconductor manufacturers and that includes other provisions designed to boost American competitiveness.
On Capitol Hill, the Senate has scheduled a key procedural vote later Monday to advance the bill, which is expected to draw bipartisan support.
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Analysis: The Biden administration’s preemptive pushback on ‘recession’
It’s quite possible that, by the end of this week, we could be having yet another hugely important political debate over the definition of a word: “recession.”
The Post’s Aaron Blake writes that the Bureau of Economic Analysis on Thursday is set to release the second-quarter gross domestic product numbers. And if they’re negative, that will mark two consecutive quarters in which the economy has contracted — something that is generally understood to mean a recession. Per Aaron:
How real and politically sensitive is that possibility? Real enough that the Biden administration is seeking to preempt it.Late last week, the White House issued a document stating that two straight quarters of negative GDP “is neither the official definition nor the way economists evaluate the state of the business cycle.”Treasury Secretary Janet L. Yellen on Sunday went so far as to say she would be “amazed” if the National Bureau of Economic Research (NBER) — which determines whether we are officially in a recession — were to declare that. She also stated flatly that we’re not in a recession.
You can read the full analysis from Aaron here.
