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The US economy has now been expanding for 74 consecutive months, officially surpassing the average postwar expansion length of roughly 64 to 65 months.
From the shortest recession to a long recovery
The current expansion traces its roots to one of the strangest economic episodes in modern history. The NBER, which serves as the official scorekeeper for US business cycles, confirmed that the pandemic recession lasted just two months. It peaked in February 2020 and bottomed out by April 2020.
The longest expansion in US history ran for 128 months, stretching from June 2009 all the way to February 2020. So the current cycle would need to keep running until roughly mid-2031 to match that record.
GDP growth and recession odds
Projected GDP growth for 2026 sits at around 2.2%, a number that reflects steady if unspectacular momentum. That 2.2% figure is supported by a combination of fiscal and monetary policy that remains broadly accommodative.
Current recession probability estimates hover around 30%, according to various economic forecasting models. The NBER itself has not declared any recession, and the economy remains officially classified as being in an expansion phase.
What this means for crypto and risk assets
The 2020 crash demonstrated how quickly crypto can sell off during macro panic, with Bitcoin dropping roughly 50% in March of that year before its historic recovery.
The expansion is older than average, growth is positive but modest at 2.2%, and recession odds sit at 30%. That combination favors staying invested but with tighter risk management than you’d want during the early or middle stages of a growth cycle.
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