Is the US Economy in a Recession?

US GDP shrinks by 0.9%, the second straight quarter of decline, while inflation hit a four decade high of 9.1%. While technical recessions are defined as two straight quarters of GDP decline, many public officials and government entities have pushed back against calling the current state of the US economy a recession. Janet Yellen, US Treasury Secretary, said recently on NBC's Meet the Press that this is not an economy that's in a recession. A true recession could still hit the US, just not straight away.