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Scaramucci Declares U.S. Recession Amid Rising Prices

4/18/2026

32 6 Full Breakdown

Summary

Story summary

Anthony Scaramucci, former White House communications director, says the United States is in a recession.
He cites rising prices and spending cuts tied to U.S. President Donald Trump’s policies.
He predicts official data will show two consecutive quarters of no growth.
The U.S. blockade on the Strait of Hormuz has cut 90% of Iran's economy.
Military officials warn prolonged sanctions could raise U.S. energy prices and urge diplomacy.

History

Historical Context

The 2008 financial crisis, triggered by the collapse of the U.S. housing bubble, led to a severe recession from December 2007 to June 2009, with GDP contracting by 4.3%. The U.S. government enacted the $700 billion Troubled Asset Relief Program to stabilize banks. Today, rising prices and spending cuts echo this turmoil, as economic pressures continue to shape policy discussions.

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Story summary

Anthony Scaramucci, former White House communications director, says the United States is in a recession.
He cites rising prices and spending cuts tied to U.S. President Donald Trump’s policies.
He predicts official data will show two consecutive quarters of no growth.
The U.S. blockade on the Strait of Hormuz has cut 90% of Iran's economy.
Military officials warn prolonged sanctions could raise U.S. energy prices and urge diplomacy.

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