• A recession is defined as two consecutive quarters of negative economic growth.
• In a blog post, the council of economic advisers tried to redefine that saying that two consecutive quarters of falling GDP doesn’t mean the country is in a recession.
• “What is a recession? While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle,” the blog post states.

Tagged: #Bidenflation