Yellen seems to disagree, although she said the two quarters definition is too blunt and the "official" definition, the one used by NBER, takes a much more broa

Yellen seems to disagree, although she said the two quarters definition is too blunt and the "official" definition, the one used by NBER, takes a much more broad picture of the economy. "There's an organization called the National Bureau of Economic Research that looks at a broad range of data in deciding whether or not there is a recession. And most of the data that they look at right now continues to be strong. I would be amazed if the NBER would declare this period to be a recession, even if it happens to have two quarters of negative growth."[1] I think maybe you're conflating "standardized fact" with "objective fact." A kilogram is a standardized fact, even though the objective weight of the object may change. We agree there isn't an objective definition of a recession; I'm saying that despite that, there is a standardized definition. And it isn't "two consecutive quarters of negative growth." [1] https://www.nbcnews.com/meet-the-press/meet-press-july-24-2022-n1297457 https://www.nbcnews.com/meet-the-press/meet-press-july-24-20...