Fox Business host Cheryl Casone had nothing but praise for the U.S. economy on Thursday after the release of strong economic data.
The U.S. economy grew faster than expected in the second quarter. The Gross domestic product (GDP) grew at a 2.4 percent rate, easing fears of a recession, according to Reuters.
“2.4%…..the advanced read for second-quarter GDP estimate was only for 1.8%,” Casone said. “Talk about a strong economy. There goes that recession talk, right?”
Economists expected a 1.8% GDP growth in the second quarter, a decline from the 2% in the first quarter.
“What’s interesting here is the expectation was we’re going to have a weaker Q2. In Q1 we had a 2% rate in Q1 for this year. We were thinking we’re going to have a slowdown,” Casone continued. “It’s the opposite — 2.4%. And, you know, even the range, this is in the high end of the range that economists were looking for. So that’s pretty darn interesting. Really. Q4 was 2.6%. So the economy is still strong.”
White House deputy communications director Herbie Ziskend later posted Casone’s praise of the Biden economy on Twitter, adding “#BIDENOMICS”.