Minor annoyance about technica economicl terms.
This fall I've gone back to college and one of the classes I'm taking is Microeconomics. Because of this class every time I come across someone saying we're in a recession in the U.S. it mildly annoys me. A recession is two consecutive quarters of economic downturn which we have not had. According to my Economics teacher what we're in is actually called stagflation which is where the economy is stagnant but prices are still rising due to inflation. Stagflation is also worse than a recession.