Edit: Microsoft have postponed this update until late March 2022. The policy is going to be changed to 60 to 120 day default expiration.
Microsoft announced that they are changing a policy, meaning that Teams meeting recordings will be sent to the recycle bin after 60 days. The reason they have done this is to help your administrator more efficiently manage storage in Office 365.
If you want to keep a recording for more than 60 days, you need to make sure you change the expiration date. Do this by clicking to open the recording in the browser.
Once opened, click on the information icon on the top right.
A panel will open with details of the recording and an expiration date. Make sure you choose select date and choose when you want the recording to be sent to the recycle bin.
You can choose no expiration or extend the expiration once a date is selected.
You can also do this from the OneDrive or SharePoint site where the recording is stored by choosing the same information icon and changing the expiration from there.
You can only do this per recording, but your administrator can change this for the entire organisation if they wish.