Recession Began In February

The National Bureau of Economic Research has determined that a recession began in the United States in February 2020.

“The peak marks the end of the expansion that began in June 2009 and the beginning of a recession. The expansion lasted 128 months, the longest in the history of U.S. business cycles dating back to 1854.”

Axios: “There was no doubt the U.S. was in the midst of a recession, given the shelter-in-place measures that brought economic activity to a near halt and caused millions of layoffs — but this is their fastest call yet, as it’s sometimes taken as long as a year to make such calls in the past.”