Re:What’s going on with Google and Facebook hiring freezes?
by dragonwriter on Wednesday August 03, 2022 @12:49AM
(#32327772)
> > The governments formal definition is that the NBER decides.
> That's simply not true
Yes, it is.
> Policymakers may speak about NBER's findings, but there is no formal recognition of them in U.S. law.
Not all official government actions are done by Congress as law.
US Department of Commerce’s Bureau of Economic Analysis says “The designation of a recession is the province of a committee of experts at the National Bureau of Economic Research” [0]
US Department of Labor’s Bureau of Labor Statistics describes NBER as “the official arbiter of U.S. recessions” [1]
> That's simply not true
Yes, it is.
> Policymakers may speak about NBER's findings, but there is no formal recognition of them in U.S. law.
Not all official government actions are done by Congress as law.
US Department of Commerce’s Bureau of Economic Analysis says “The designation of a recession is the province of a committee of experts at the National Bureau of Economic Research” [0]
US Department of Labor’s Bureau of Labor Statistics describes NBER as “the official arbiter of U.S. recessions” [1]
[0] https://www.bea.gov/help/glossary/recession
[1] https://www.bls.gov/spotlight/2012/recession/pdf/recession_b...