Maybe President Joe Biden (D) should hide this
Early yesterday, the respected Conference Board, which describes itself as a nonpartisan, nonprofit "member-driven think tank that delivers trusted insights for what's ahead," released its December 2022 report, stating:
LEI for the U.S. Declined Sharply Again in December
The Conference Board Leading Economic Index® (LEI) for the U.S. decreased by 1.0 percent in December 2022 to 110.5 (2016=100), following a decline of 1.1 percent in November. The LEI is now down 4.2 percent over the six-month period between June and December 2022 -- a much steeper rate of decline than its 1.9 percent contraction over the previous six-month period (December 2021–June 2022).
"The US LEI fell sharply again in December -- continuing to signal recession for the US economy in the near term," said Ataman Ozyildirim, Senior Director, Economics, at The Conference Board.
Oh. Somehow this report seems to differ from Biden's assessment of the economy, which he recently described as "strong as hell" to reporters.
The report continued:
The majority of components continue to contribute negatively to the US LEI
which indicates The trajectory of the US LEI continues to signal a recession
Oh. Sure doesn't look "strong has hell" to me, as hell is described:
(2): the nether realm of the devil and the demons in which condemned people suffer everlasting punishment -- often used in curses
2a: a place or state of misery, torment, or wickedness
e: an extremely unpleasant and often inescapable situation
Oh, that kind of hell. Oh.
Let's go Brandon. Go! In your shiny Corvette. Parked safely in your garage. That's locked.