As there is much ballyhoo and debate as to whether or not we're in a recession, I've found it typically economist-ish for the Federal Reserve and the NBER to have different definitions of a recession. This only continues to further confuse the masses and deter people from not only studying economics, but trying to understand it.
Ergo, I was happy when I saw this on Foxnews which does a pretty good job breaking down the differences between NBER's definition of a recession and the traditional definition of a recession.
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