Honestly, this happens pretty much every time we’ve gone into recession since the Bush days.
My understanding was there is some economic council made up of academic economists who actually “declare” what everyone knows.
The two negatives in as row is a wall street and financial rule of thumb.
No one “wants” as recession. And the pols will always try to deflect the label being pinned on them. In this case, with Biden flailing around, the “two in a row” is going to get slapped on him pretty quickly.
The administration denying this is as old as administrations. While I despise Old Joe, this tactic has been pulled buy Dems and Reps alike over the years.
Just wait until the end of this quarter, Q3, at the end of September, a little over a month before the mid-terms, and they will say THREE quarters of negative GDP is not a ‘recession’.
OR
If there is positive GDP, they will declare that Biden’s policies have SAVED US FROM THE RECESSION that we were NOT in....................😜