President Biden has a new headache: He can't avoid the debate over whether the U.S. is in a recession, but if he dwells on it, he may hasten the very slowdown he's desperate to avoid.
Why it matters: In economics, psychology matters. If the country and consumers believe we're in a recession — even if we technically aren't — the economy will eventually slow down, turning Biden's inflation problem into a potential stagflation nightmare.
