On this day in 1991, President George H. W. Bush declared that the recession that started July 1990 was almost over.
It officially ended in December 1992.
But the NBER only declared its end 22 months after the fact — and two months after the presidential election. Bush was out and Clinton was in.
What’s this all mean for 2022? I have no clue. But we should keep it in our collective back pocket for later.
