Jun 8, 2022 - Economy

Former SEC chair says recession has begun

Harvey Pitt during Axios event

Photo: Axios events

Harvey Pitt, who led the Securities & Exchange Commission between 2001 and 2003, believes that the American economy is "at the beginning stages of a recession already."

Be smart: Pitt, a Republican critical of President Biden's policies, reflects the inflation-scarred view of a majority of his party. But not most economists, as many key indicators remain strong.

  • Pitt made the comment during an Axios event on Wednesday afternoon.

Go deeper: We're not in a recession

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