The Wall Street JournalThe Wall Street Journal

What Is a Recession and Are We in One Now?

By Josh Mitchell and Harriet Torry

27 Jul 2022 · 3 min read

The media coverage of the (pending) global recession can be overwhelming. This article will help you make sense of the noise and understand what is happening now.

Curated by informed

With U.S. economic output falling, the Federal Reserve raising interest rates and the stock markets down, the possibility of a recession is looming over economists and chief executives.

The economy contracted at an annual rate in two consecutive quarters this year, meeting one common definition of recession. The International Monetary Fund has repeatedly lowered its forecast for U.S. and global economic growth in 2022 and 2023, as soaring inflation and the spillover from the war in Ukraine cut into household purchasing power. Though recessions can be painful and scary, they are a recurrent feature of the economy.

The news, curated.

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