The longest economic expansion in American history is officially over. The National Bureau of Economic Research declared Monday that the recession began in February.
The economy collapsed so rapidly that NBER wasted no time in announcing a recession, a stark contrast to previous downturns when the body took upwards of a year to declare what most people already knew. This was the fastest that NBER has declared any recession since the group began formal announcements in 1979. Continue reading “It’s official: The recession began in February”
