A recession, that is, a regression in economic activity, usually follows a policy of raising interest rates implemented by the central bank to discourage consumption and investment (the YCharts that consumption was nearly 70% of US GDP as of June 2023).

Source: https://seekingalpha.com/article/4634833-why-us-gold-mining-stock-could-rebound-if-gold-turns-bullish?source=feed_all_articles

However, German and US GDP numbers and debt ceiling talks will move the dial.

Source: https://forextv.com/crypto-currency-news/dax-to-face-a-choppy-session-with-gdp-and-debt-talks-in-focus/

In the House, 28 Democrats led to move legislation forward on this issue, claiming that providing access to citizenship to undocumented migrants would raise US GDP by $1.7tn over 10 years.

Source: https://www.theguardian.com/us-news/2023/apr/23/california-vulnerable-immigrant-undocumented-workers

US GDP forecasts have also been significantly revised upward in recent weeks.

Source: https://seekingalpha.com/article/4582344-voog-time-to-buy-huge-long-term-gains?source=feed_all_articles