The Conspiracy of Silence in the Treasury on the Explanation of the Recession (!)

Not from the Onion, but rather from the Daily Signal, the mouthpiece of the Heritage Foundation:

The Treasury Department under President Joe Biden refused to provide documents showing how officials decided to change the definition of a recession after the first two quarters of 2022 saw gross domestic product decline, the traditional definition of a recession.

The Heritage Foundation filed a Freedom of Information Act request on July 6, asking the Treasury for internal communications containing the words “recession,” “an alternative definition of recession,” and “alternative measures of recession.” (The Daily Signal is a news outlet of The Heritage Foundation.)

Here is the cover page of the case.

Link.

I think it’s interesting to know what the Treasury thinks shows a recession, but as a basis for a case, I think it’s pretty stupid.

I’ve never worked at the Treasury, but I talked to a lot of Treasury economists when I was at the CEA, and I’m sure the economists there know that the NBER is the official arbiter of the US recession. I’m just saying.