Are We In A Recession?

Two pieces of news fell through the cracks today (it is called information overload, and we all face it.)  Charts below, decide for yourself.  Are we in a recession?

M2 money supply (thanks to John Ellis)

ChartI moved the Sept. 17th label forward one week in order to avoid crazy conspiracy theories. The increase in the M2 occurred in the week of, not the day of, September 10th. I reasoned that to put the label September 10th would welcome unfounded conspiracies.

Philadelphia Fed Index (thanks to Joe W.)

Chart

Photo: Philadelphia Fed Index

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