https://www.siliconvalley.com/2022/08/08/jill-on-money-the-recession-label-is-not-as-important-as-you/

After the Fed raised short term interest rates by 0.75% to a range of 2.25-2.50%, Chairman Jerome Powell said that the U.S. is not currently in a recession, which he described as a “broad based decline” and then added, “that’s not what we have now.”

Powell noted that it’s hard to square a recession with the still-solid labor market.