Chris Cuomo Asks 'Recession?' But Reporter Says Economy Is 'Holding Up'
"Good Morning America" asked "What is going on?" with the stock market on August 16. Anchor Chris Cuomo asked Bianna Golodryga if the market drop is a correction or a recession.
"There seem to be two schools of thought here, those involved in all this sophisticated mortgage lending are saying this is the beginning of the end. But stock analysts are saying it is just a correction. Where are people's heads down there today?" said Cuomo
An on-screen graphic read, "Very Nervy Wall Street Correction Or Recession?"
"We just don't know ... But at the same time, this isn't a recession. The economy and job market is still holding up."
"Good Morning America" is not the only program worried about recession. Business & Media Institute reported on August 15 that other media have wondered since August 6 if the markets are heading for a crash or will cause a recession.
BMI also interviewed a handful of economists who shared their thoughts on the stock market, mortgage market, the Fed and the economy.