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The word recession elicits strong emotions - excitement, fear, and even political charges. This tutorial aims to focus on the financial aspects of a recession, not the emotions surrounding it. Recession is a natural part of the economic cycle, with the longest period without a slowdown in modern American history being from after the 2008 crash up until February 2020. It is important to understand the financial implications of a recession as we head into 2023 and beyond, as economic unpredictability is not ending anytime soon.