I get that the Biden Administration doesn't want two straight quarters of decline in GDP – Gross Domestic Product – to be labeled a recession. The "R" word is a bug with a high degree of political toxicity.
And I get that, while recessions most often have been defined as two successive quarters of GDP decline, there are differing views among economists regarding whether that is the most appropriate "technical" definition. Or whether it should qualify as the "official" definition.
Read Full Article »
