White House Redefining Recession, Standard Indicator Will Be Ignored for a 'Holistic' View

With The Washington Post blaring that “Big Tech is bracing for a possible recession,” the Biden White House is redefining the word.
A recession is traditionally defined as two consecutive quarters in which the nation’s Gross Domestic Product shrinks. A new report Thursday will assess the results of the second quarter. Shrinkage took place in the first quarter, and with inflation running at 9.1 percent, there’s not a lot of hope for economic good news.
As noted by Business