First of all, let me define the meaning of a Recession just for clarity's sake and you can judge for yourself if the United States is in recession or not, Recession is a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters, which the United States has already had in the past two quarters of this year, So by definition, the United States is in recession even though the White House disagrees and is in denial saying that "Two consecutive quarters" of negative growth is "not the definition of a recession," a claim made by the White House Press Secretary Karine Jean-Pierre earlier this week, during a verbal sparring match with a reporter. That came after Treasury Secretary Janet Yellen appeared on NBC's Meet The Press last weekend to declare that "this is not an economy that is in recession."

Is The United States In Recession Or Not?

The White House is not the only one claiming that the United States, is not in recession, even the Federal Reserve (FED) Chairman Jerome Powell says he does "not think the U.S. is currently in a recession" and the United States "economy is still on track to grow this year," during the FOMC meeting, which its meeting announcement has really in a way has contributed to the recent pump for the price of Bitcoin from $20k to above $24k and the crypto market in general. they have been a lot of green or bullish candles since the FED increased or hiked interest rates by 75 basis points to fight the rising inflation. At the end of the Federal Open Market Committee (FOMC) meeting, Fed officials wrote a statement that said that job gains have grown while unemployment remained low, which honestly is so confusing. like the facts are not adding up.

This Recession Could Benefit Crypto More

This recession or not recession could benefit crypto more in the end, because with the government denying that the U.S. is in recession when facts point that it clearly is, that could make people lose trust for them and push them into crypto which would be beneficial for them and increase the adoption rate of crypto, Win-Win situation.

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