GDP shrinkage artificially induced by the Federal Reserve

To lift the US economy out of the W-induced recession, the Fed had artificially inject more liquidity into the economy, QE, to increase demand for economic activities. some have derided it as printing money on thin air.

QE has lifted the US economy out of economic hell; lots of jobs created
leading to a steady growth in the economic pie for more than a decade.
​

then the ineffective / ill-advised trade war followed by willful ignorance of the pandemic---wishing it away---have caused the global supply chains out of wack, supply chain bottlenecks have reduced supply, effecting price increases.
the Ukraine war has only exacerbated the inflationary pressure, towards the highest inflationary increase in 40 years.

​

To fight this rapid rise in inflation---containing demand---the Fed has taken steps to artificially induce an economic shrinkage. so far in 2022. the Federal Reserve has already increased the interest rate 4 times,
w one more more rate hike expected before year-end.

it appears that the Fed rate hikes have been effective, as The Commerce Dept just released data that the US economy contracted 0.9%, following a 1.6% decrease in Q1.

Not every recession follows two full quarters of negative growth
(1947 saw the U.S. economy shrink on that basis but without going into a recession).​

The official declaration of a recession is made by the National Bureau of Economic Research, which defines it as "a significant decline in economic activity that is spread across the economy and that lasts more than a few months." .

The NBER has not officially called it a recession. after all, when the economy has been able to steadily increase job creation, to the tune of 400K a month, the downturn is not spread across the economy.