Pale Recession

AAA

DEFINITION of 'Pale Recession'

A phrase used in May 2008 by former Federal Reserve Board Chairman Alan Greenspan to describe an economic environment in which recession has not yet hit all the areas of the economy. In particular, Greenspan was speaking of the U.S. employment numbers at the time, which had not yet seen as significant of a decline as would be expected in a full recessionary environment, which is generally marked by a broad decline in economic activity across the economy.

INVESTOPEDIA EXPLAINS 'Pale Recession'

Greenspan used this term in a television interview with Bloomberg on May 4, 2008. When asked whether the U.S. was in a recession he responded, "We're in a recession ... but this is an awfully pale recession at the moment. The declines in employment have not been as big as you'd expect to see."

RELATED TERMS
  1. Recessionship

    A slang term used to describe an intimate relationship that forms ...
  2. Alan Greenspan

    The former chairman of the Board of Governors of the Federal ...
  3. Cyclical Unemployment

    A factor of overall unemployment that relates to the cyclical ...
  4. Gross Domestic Product - GDP

    The monetary value of all the finished goods and services produced ...
  5. Federal Reserve Board - FRB

    The governing body of the Federal Reserve System. The seven members ...
  6. Recession

    A significant decline in activity across the economy, lasting ...
Related Articles
  1. Insurance

    A Review Of Past Recessions

    Here we look at the biggest economic declines in the U.S. since the Great Depression.
  2. Economics

    Alan Greenspan: 19 Years In The Federal Reserve

    Follow the economic glories and bumbles in the career of the previous Fed chair.
  3. Personal Finance

    How The Federal Reserve Manages Money Supply

    Find out how the Fed manages bank reserves and this contributes to a stable economy.
  4. Bonds & Fixed Income

    Tips For Recession-Proofing Your Portfolio

    Find out what to do when the sun sets on a burgeoning market.
  5. Active Trading Fundamentals

    Recession: What Does It Mean To Investors?

    Understanding the business cycle and your own investment style can help you cope with an economic decline.
  6. Savings

    7 Ways To Recession-Proof Your Life

    Find out what you can do to prepare and cope in tough economic times.
  7. Economics

    4 Tips For Buying Stocks In A Recession

    Bear markets can terrify even seasoned investors. Learn how to invest safely.
  8. Personal Finance

    Recession And Depression: They Aren't So Bad

    Financial downturns are part of the economic cycle and may have important long-term benefits.
  9. Investing

    What causes a recession?

    According to the National Bureau of Economic Research (NBER), recession is defined as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally ...
  10. Trading Systems & Software

    The Bloomberg Terminal: Step By Step

    Bloomberg is synonymous with investment information- its media outlet and software/hardware are used by most, if not all, professional money managers.

You May Also Like

Hot Definitions
  1. Christmas Island Dollar

    The former currency of Christmas Island, an Australian island in the Indian Ocean that was discovered on December 25, 1643. ...
  2. Santa Claus Rally

    A surge in the price of stocks that often occurs in the week between Christmas and New Year's Day. There are numerous explanations ...
  3. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  4. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  5. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  6. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
Trading Center