There have not been negative GDP quarters since those two, which were only slightly negative. Therefore we are not in a recession since ‘22.
As for inflation, the federal fiscal fabricators no longer factor into equations energy and food spikes
Energy, and maybe food, is not part of the "core inflation" number. It is in the CPI and other inflation numbers.
The money people got for Covid is said to have run out. People are racking up record amounts of credit card debt. It will not end well. But the timing is still unclear.
“It will not end well. But the timing is still unclear.”
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Agree that it will not end well. But everything I am hearing is that quarters 3 & 4 will be devastating, though the true damage to the economy will not be revealed until after the new year.
I fully expect a catastrophe in the commercial real estate market, due to several factors including vacancies. I’ve read that 1/3 of the mortgages are up for renewal this fall and several will be turned down. because of this, unrealized losses to the banks will continue to crater the financial lending markets.
The dollar is running into a BRIC wall and will soon collapse the dollar.
Energy and food costs are spiking and once again the supply chain is experiencing orchestrated set backs.
IOW, the economy will soon tank. Just as planned by NWO globalists.