President Joe Biden is scheduled to speak twice on economic topics on Thursday, following a report that’s intensifying a debate over whether the U.S has sunk into a recession. Biden is slated to speak at 12 p.m. Eastern on congressional Democrats’ newly struck $739 billion inflation-fighting package, and again at 2:15 p.m. on the economy as he meets with chief executives of businesses. Biden’s remarks will come after the government said the U.S. economy shrank at a annual 0.9% pace in the second quarter, to mark the second decline in a row. The Biden administration has argued the U.S. is not in recession, but with midterm elections approaching in November, Republicans are pinning the blame on Democrats for the slowdown in growth.
