Are We in a Recession?

The committee is not trying to make a real time determination of are we in a recession? At the moment write that is i no way shape or form what the committee is convened to do. We're waiting untill the data settle down. And we have high confidence to be able to make these turning point calls with very little concern about doing this in real time. Because the committee doesn't really care about tomorrow. It doesn't even really care about to day. The committee only cares about the past. For example, they decided that the great session ended in june two thousand nine, which they announced in september 20 tenth, 15 months later. I wanted to understand what it felt