"Official" recessions in the United States are declared by:
A)The Federal Reserve
B)The U.S.department of the Treasury
C)The National Bureau of Economic Research
D)Congress

Question

Quizplus · Accepted Answer

The National Bureau of Economic Research (NBER) is responsible for identifying and declaring official recessions in the United States. The NBER examines various economic indicators, including GDP, employment rates, and industrial production, to determine if the economy is in a recession. The Federal Reserve, U.S. Department of Treasury, and Congress may all play roles in responding to recessions, but they do not have the authority to officially declare them.

"Official" Recessions in the United States Are Declared By