Who gets to decide if we are in a recession?

Jun 9, 2020
We have to take the word of economists at the National Bureau of Economic Research, who have been making that call for a hundred years.
A man wears a face mask as he check his phone in Times Square on March 22, 2020 in New York City. - Coronavirus deaths soared across the United States and Europe on despite heightened restrictions as hospitals scrambled to find ventilators. (Photo by Kena Betancur / AFP) (Photo by KENA BETANCUR/AFP via Getty Images)
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It's official: We're in a recession

Jun 9, 2020
In the past, the National Bureau of Economic Research has watched an economic decline for longer before declaring a recession. But this is no ordinary contraction.
Shuttered stores in downtown Los Angeles in April.
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How will we know we're in a recession?

What the National Bureau of Economic Research looks for when analyzing the business cycle.
In this photo illustration, a man looks at a graph representing the 12-month decline of the FTSE 100 share index on Oct. 7, 2008, in London.
Peter Macdiarmid/Getty Images