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A Note From Kelly Anne

With all the doom and gloom in the news lately about the stock market, inflation and interest rates, you might think we’re in a recession. Assessing the health of the economy, however, isn’t that simple. Below, we discuss who declares a recession—and how we’re tracking various economic indicators.

Best,

Kelly Anne

Senior Staff Writer

Consumer Finance

Recession Tracker: Are We In A Recession?

Soaring prices. Plunging stocks. Rising interest rates. Are we in a recession?

Technically, no. The National Bureau of Economic Research (NBER) is the only organization that can officially declare a recession, defined as a significant decline in economic activity that lasts more than a few months.

Despite the U.S. gross domestic product (GDP) dropping two quarters in a row—usually a tell-tale sign of economic downturn—the NBER is standing firm that no, the U.S. economy isn’t currently in a recession. The bureau says the labor market and corporate earnings growth remains too strong for an official recession to be declared.

But there are other factors to consider. Consumer confidence in the economy remains low, as does housing demand. Out of the 15 data points we graded in our recession tracker, nine were graded “bad.” The economy may not officially be in a recession, but one may arrive soon.

Here’s what else you should know
this week

Get Refunded For Student Loan Payments Made During The Pandemic

Federal student loan payments have been paused for borrowers since March 2020. If you made a payment during the pause, you may be able to get those payments refunded. Here's how.

Protect Yourself From Student Loan Forgiveness Scams

Student loan forgiveness scams have already seen an uptick since Biden announced up to $20,000 in debt forgiveness in August. Here are red flags to watch for and how to keep your personal information safe.

Consumer Confidence Cools Despite Lower Inflation, Energy Prices

Consumer confidence dipped slightly in the face of continuing financial headwinds, including the end of the era of cheap money.

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