The country experienced a mild recession in 1998 and 1999.

Coming at around the same time as the budget deal, America entered into a mild recession, lasting for six months.

Those are the times when official lending can make the difference between a mild recession and an economic collapse, he has said.

"The way this is developing makes it look like we will have a mild recession."

This hardly sounds like the end of a mild recession.

The reality is that we didn't have a mild recession.

We had a mild recession and the system responded properly.

The average declined from 1989 to 1991 because of a mild recession.

For them, the recession, mild by historical standards, is a personal horror.

"If we are in a mild recession, I don't think it is inappropriate for both markets to be moving together," he said.