The 2 blessed factors that say we actually aren't in a recession:
- gasoline prices that are only down because of strategic petroleum reserves being drained at a rapid pace
- consumer spending that might still go up since the proles still "have about 2.3 trillion in excess savings accumulated during the pandemic" which I'm sure inflation won't just eat into.
It's also great that everyone is now expected to just drain through literally all of their savings before it can be said that the US is in a recession, even though we have already crossed the literal definition of a recession. Thank you professional Harvard professor and former economic advisor under :obama-spike:, whatever will we do without your wisdom.
Gasoline prices will go down during a recession tho. It is a common side-effect.
That's right, it happens when the recession is well underway though, when middle class are trying to save money instead of travel for vacation.