human
I've heard that the United States is in a recession. What does this mean for me?
assistant
A recession is a period of economic contraction, typically characterized by falling GDP and declining employment. It can be caused by a variety of factors, including changes in consumer spending habits, an over-supply of goods or services, or a decline in business investment. Recessions are often associated with higher unemployment and lower wages. While there is no one-size-fits-all solution to recessionary periods, it is important to monitor financial markets closely and take steps to protect your finances.