Are we in a recession right now??

A recession, according to the National Bureau of Economic Research, is defined as “A significant decline in economic activity that is spread across the economy and lasts more than a few months.”

They look at several factors, not JUST two consecutive quarters of GDP decline. They look at:

  1. Yes, the GDP thing.

  2. Rising unemployment

  3. Industrial production decline

  4. U.S. Retail Sales decline

  5. Yield curve inverts

  6. Consumer confidence declines

They look at other things, too, and then they make their determination. The President does not make this determination. Joe Biden did not change the definition. The definition in quotes above has been the definition since the 1970s.

Above, you can click on the links and monitor everything yourself as needed, or whenever you’re worried about a possible recession.