It’s Official: U.S. Economy Is In A Recession. “It may seem obvious, with double-digit unemployment and plunging economic output. But if there was any remaining doubt that the U.S. is in a recession, it’s now been removed by the official scorekeepers at the National Bureau of Economic Research. The bureau’s Business Cycle Dating Committee — the fat lady of economic opera — said the expansion peaked in February after a record 128 months, and we’ve been sliding into a pandemic-driven recession since.” via NPR