The White House is pointing out that the US isn't really in a recession

[PSPS]

2. The traditional idea of a "recession" isn't applicable here. This is a unique situation.

For one thing, we're still in a pandemic (despite the media's advertising-driven charade of it being otherwise) and its effect on the workforce, supply chain, etc. Another thing is the Russian invasion and war causing widespread food and energy shortages. This is a combination without any history as a guide.

A third thing is the low unemployment rate. One key indicator of a recession is high unemployment. Recessions never have low unemployment.

My admittedly amateur opinion is that this is all a symptom of pandemic-driven speeding up the movement to a new kind of economy. It would have happened over then next twenty years anyway but was compressed into a year or two because of the pandemic. Office space vacancy is still high with no signs of improving (Amazon has started cancelling office projects in the works) and people have come to prefer, even insist on, working at home (the employers wanting to return to normal are relenting due to enormous pushback from their employees as well as potential new hires.)