What Happens in the Next Recession?

The recession during the onset of the pandemic was the worst quarterly GDP decline since the Great Depression. The unemployment rate shot up from less than 4% to more than 14% in one month. But this doesn’t count as a true recession. We shut off the economy like a light switch but then turned it back on. Plus the government sent out trillions of dollars in aid to households, businesses and states. Unemployment insur...