Are we in a recession or not? Does it matter?

As I've said since July 1, we are in fact, in a recession. But does that mean that horrible things are on the horizon? Not necessarily. Recessions are all different and this one will certainly be as well. We need to take it one day at a time. This week is HUGE because the FED is likely to raise rates .5-1% and I think we'll land right in the middle of that range. Either way, the markets are poised for major volatility so be on the ready. Mortgage rates holding strong and I think we'll see them drop in the near future. Hope this helps! Links below :)

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LINKS:
https://www.whitehouse.gov/cea/written-materials/2022/07/21/how-do-economists-determine-whether-the-economy-is-in-a-recession/
https://www.cnbc.com/2022/07/25/walmart-cuts-second-quarter-guidance-as-it-sees-slower-growth-due-to-inflation.html
https://www.cnbc.com/2022/07/25/the-numbers-show-the-us-economy-is-at-least-teetering-on-a-recession.html
https://www.cnbc.com/select/how-applying-for-a-mortgage-affect-credit-score/