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The word recession evokes various emotions in people, from excitement to fear to political tension. However, it is important to focus on the financial aspects of a recession. Recessions are a natural part of the economic cycle and have occurred in the past and will continue to happen. The period before the 2020 pandemic was the longest in modern American history without an economic slowdown, lasting 128 months from the 2008 crash to February 2020. Economic uncertainty is likely to continue beyond 2023, so understanding the financial implications of a recession is crucial for 2023 and beyond.
