Q: I think we are in a recession already and you don’t seem to agree. Why is that?

A: Brad McMillan explains why recession fears may be overstated, at least right now. Economic growth should continue, but headlines paint a darker picture than the data actually suggests.
Further supporting Brad’s points, last month’s job numbers were stronger than expected. This strengthens the case for continued economic growth. It also likely means more rate hikes by the Fed, as they try to respond to greater consumer purchasing power.
Recessions have always included job losses, and it is hard to see a recession occurring without increases in unemployment. Growth is slower, but slower growth is not the same thing as recession.
It is possible that continuing talk of recession becomes a self-fulfilling prophecy, as people who don’t “need” to curb spending act more defensively. It is also possible that Federal Reserve efforts to curb inflation (by reducing demand) go too far and lead to recession. The data will tell the story.