Are we in recession? No we're on the planet Pluto

US - Amid the was it or wasn't it debate about the U.S. recession, a senior Federal Reserve official has coined a new phrase for the economic downturn that began last March, dubbing it: "the Pluto recession."

Speaking to a group of reporters on Friday, St. Louis Fed President William Poole likened the controversy over how to describe the U.S. economy's recent woes to the wrangles among astronomers about the planet Pluto.

"The astronomers argue about whether Pluto is or is not a planet," Poole s

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