{"id":255745,"date":"2024-08-20T17:37:39","date_gmt":"2024-08-20T17:37:39","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/20\/conspiracy-of-silence-at-the-treasury-about-the-definition-of-a-recession\/"},"modified":"2025-06-25T17:12:00","modified_gmt":"2025-06-25T17:12:00","slug":"conspiracy-of-silence-at-the-treasury-about-the-definition-of-a-recession","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/20\/conspiracy-of-silence-at-the-treasury-about-the-definition-of-a-recession\/","title":{"rendered":"Conspiracy of Silence at the Treasury about the Definition of a Recession (!)"},"content":{"rendered":"

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Not from the Onion<\/a>, but rather from the Daily Signal<\/a>, mouthpiece of the Heritage Foundation:<\/p>\n

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The Treasury Department under President Joe Biden has refused to hand over documents showing how officials decided to alter the\u00a0definition of a recession<\/a>\u00a0after the first two quarters of 2022 saw declines in gross domestic product, the traditional definition of a recession.<\/p>\n

The Heritage Foundation<\/a>\u00a0filed a Freedom of Information Act request on July 6, asking Treasury for internal communications containing the terms \u201crecession,\u201d \u201calternative definition of recession,\u201d and \u201calternative recession measurements.\u201d (The Daily Signal is The Heritage Foundation\u2019s news outlet.)<\/p>\n<\/blockquote>\n

Here\u2019s the lawsuit cover page.<\/p>\n

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Link<\/a>.<\/p>\n

I suppose it\u2019s interesting to know what Treasury thinks signals a recession, but as a basis for a lawsuit, I think it\u2019s a pretty silly.<\/p>\n

I\u2019ve never worked at Treasury, but I talked to plenty Treasury economists while at CEA, and I\u2019m pretty sure the economists there are aware that the NBER is the most official arbiter of recessions in the US. Just sayin\u2019.<\/p>\n<\/p><\/div>\n

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