Great news: The US economy is officially out of recession. We know this because the National Bureau of Economic Research’s official recession-calling committee said so this week. The economy has been in an expansion phase since last April, making this the shortest recession on record at only two months.
The NBER committee always makes these calls in hindsight both the beginning and end of recessions. Literally everyone could see the economy coming to a halt in March and April. The signs weren’t subtle. Yet it wasn’t until June 8, 2020, that they said the economy had peaked in February, marking the recession’s onset. I don’t blame them for waiting to see the data, though. Caution is appropriate on these things.
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Great news: The US economy is officially out of recession. We know this because the National Bureau of Economic Research’s official recession-calling committee said so this week. The economy has been in an expansion phase since last April, making this the shortest recession on record at only two months.
The NBER committee always makes these calls in hindsight both the beginning and end of recessions. Literally everyone could see the economy coming to a halt in March and April. The signs weren’t subtle. Yet it wasn’t until June 8, 2020, that they said the economy had peaked in February, marking the recession’s onset. I don’t blame them for waiting to see the data, though. C
Operator
Good day and thank you for standing by. Welcome to the Interactive Brokers Group Second Quarter Financial Results Conference call. [Operator Instructions] Please be advised that today s conference is being recorded. [Operator Instructions]
I would now like to hand the conference over to Nancy Stuebe, Director of Investor Relations. Please go ahead.
Nancy Stuebe
Director, Investor Relations
Good afternoon and thank you for joining us for our second quarter 2021 earnings conference call. Once again, Thomas is on the call but asked me to present his comments on the business. He will handle the Q&A.
As a reminder, today s call may include forward-looking statements, which represent the company s belief regarding future events which by their nature are not certain and are outside of the company s control. Our actual results and financial condition may differ possibly materially from what is indicated in these forward-looking statements. We ask that you refer to the discl