The US economy shrinked by 0.9% in the past three month

The economy has contracted for this second quarter in a row

The White House has resisted labelling the current economy a recession

That determination is made by an NBER committee of eight economists, and many factors are considered

It is undoubtedly aware of the importance of the economy in the upcoming midterm elections

Businesses had retrenched, according to the GDP report

Borrowing has undoubtedly become more expensive as the Federal Reserve raises interest rates

As a result, there is less money to invest. The main concern is whether this will have an impact on job growth

The recession fears have grown significantly as the Fed continues to aggressively raise interest rates to combat high inflation

During previous downturns, for example, the economy was losing jobs