On 8 June, the business cycle dating committee of the National Bureau of Economic Research declared that economic activity in the US had peaked in February 2020, formally marking the start of a recession. But we already knew that we were in a recession that had likely begun around that date. So, why does the NBER’s formal declaration matter?
Frankel, Jeffrey A. "The US is Officially in Recession Thanks to the Coronavirus Crisis." The Guardian, June 16, 2020.