Who Decides There’s A Recession?
Recently the IMF rang economic alarm bells updating its global projections noting that “baseline forecast is for growth slowing from 6.1 percent last year to 3.2 percent in 2022”, with “risks overwhelmingly tilted to the downside”. So when the time comes, who decides there is a recession? Located 350 feet from an adult store named Hubba Hubba, and just a dildo’s throwaway from Harvard University and the Massachusetts Institute of Technology, two of the premier hubs of economic thought, sits the National Bureau of Economic Research (NBER).
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