This morning, Andy joined Ashley Webster on Varney & Co. to chat about how recent headlines have falsely claimed that a recession started in February before the Coronavirus pandemic. Andy very clearly clarified that those headlines simply aren’t true. He directly quoted the BEA [Bureau of Economic Analysis] on-air, clarifying that “a peak in monthly economic activity occurred in the U.S. economy in February 2020. The peak marks the end of the expansion that began in June of 2009.” Andy then went on to point out that February was a very good month – the expansion peaked and then the decline happened – media reporting false headlines claiming a February recession aren’t paying attention to what the report actually says.
The two then talked about Andy’s recent Fox News op-ed [Falling jobless rate shows economy is recovering from coronavirus closures, as Trump predicted], highlighting the fact that the U.S. economic recovery is in full effect. “We hit the trough in May- which means we maybe had two, two and a half months of recession but it wasn’t a recession because we made terrible policy moves… we did this on purpose, we did this to fight the coronavirus,” said Andy.
In closing, Andy added, “We did great in February, we’re doing great again in May. Hopefully this will continue, and we can get back on track.”
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