From December 2007 to June 2009, the US was facing its worst economic crisis since World War 2.
The stock market crashed and unemployment was at an all-time high.
This period of prolonged economic tragedy is known as The Great Recession.
Now more than a decade later, sky-high interest rates and increasing inflation have left many in the US wondering if the world is moving towards another recession.
And experts say it’s too early to speculate any future recession, even though there are signs of an economic downturn.
Let’s understand what a recession is.
Script and production: Richard Kujur