There is a consideration that NBER isn't the issue. yes you are correct, they make a determination. I think the difference this time is that you have what was commonly accepted among normal people that 2 quarters negative meant recession. This time there is pushback against it.
I think the hang up is more political than technical. When the opposing party controls the white house there wouldn't be broad support for "let's wait and let NBER make a determination."
There is a consideration that NBER isn't the issue. yes you are correct, they make a determination. I think the difference this time is that you have what was commonly accepted among normal people that 2 quarters negative meant recession. This time there is pushback against it.
I think the hang up is more political than technical. When the opposing party controls the white house there wouldn't be broad support for "let's wait and let NBER make a determination."
Hope that helps somewhat.