Biden Wants New Recession Definition- Here's Suggestions To Help Him Out – The Lid

The new GDP number will be released later this week. Traditionally a recession is defined as a fall in GDP in two successive quarters. The US economy shrank in the first quarter of 2022. This means that if the second quarter number shows a second straight economic contraction, the United States will be in a recession—maybe. It seems that Team Biden is looking to change the definition of recession so they don’t look as lousy just prior to the midterms