Is the US in a recession? It depends on who you ask.
The Commerce Department released data on Thursday showing that the U.S. gross domestic product (GDP) shrunk for a second consecutive quarter.
The data prompted media headlines warning about the increased possibility of a recession and outcry from Republicans, quick to slam President Biden for his economic policies.
For its part, the Biden administration tamped down recession fears that a decline in GDP for the first and second quarters of this year was only natural following a year of growth after the worst of the COVID-19 pandemic.
Still, amid the cacophony of voices on the topic of economic downturn, is the U.S. in a recession?