The ‘recession’ label is not as important as YOU


After the Fed raised short term interest rates by 0.75% to a range of 2.25-2.50%, Chairman Jerome Powell said that the U.S. is not currently in a recession, which he described as a “broad based decline” and then added, “that’s not what we have now.”

Jill Schlesinger 

Powell noted that it’s hard to square a recession with the still-solid labor market.

To underscore that point, Powell recounted stats that showed continued progress over the first six months of the year: the U.S. economy has created 2.74 million jobs, the unemployment rate remains near 50-year lows at 3.6 % and there are more than 11 million job openings.

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