Who decides if the US is in a recession? Eight White economists you've never heard of
CNN
In the United States, the economy isn't broadly and officially considered to be in a recession until a relatively unknown group of eight economists says so.
That's because, in the United States, the economy isn't broadly and officially considered to be in a recession until a relatively unknown group of eight economists says so.
The economists, who serve together as the Business Cycle Dating Committee, are hand-selected by and work under the umbrella of the National Bureau of Economic Research (NBER), a private nonprofit organization. They have no predetermined meeting dates and their deliberations are private. There are no fixed term dates and the final determination of who gets to serve on the committee is made by one man: NBER president and Massachusetts Institute of Technology economist James Poterba.
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