Is a recession on the horizon? Josh Bivens, research director at EconomicPolicy, joins the latest episode of The New Abnormal podcast to give us the good news and not-so-good news.
in order to prevent a recession could actually trigger one and snuff out “the only bright part of the economy,” which is rapid job growth, says Bivens.
“If we overheated, then the Fed really does need to raise rates really fast and cool this economy off before inflation spirals. The other explanation: The sort of shocks and ripples will settle down themselves and if the Fed actually raises rates, in the face of that, they’re not helping much,” he says.
“The labor market has been really strong and it’s been the only real lifeline and source of strength for American workers over this time. So the stakes are really high [if] the Fed really thinks we need to weaken the labor market a lot to get inflation under control. That’s gonna cause a lot of damage.”
Bivens explains to Danielle what that damage would look like, how we got to this point in the first place, and why the American worker is the usual scapegoat when the economy is turning south. Also in this episode: Danielle and co-host Andy Levy talk about Republicans’ obsession with drag queens, the latest obsessor being Kellyanne Conway. Plus, they name who they think is the most “all-right” Trump kid, if such a kid existed in this family.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Philharmonic rings in the new year with three concerts Dec. 31New Philharmonic will be putting on three celebratory New Year's Eve concerts featuring a variety of popular music, waltzes, arias, and light classical favorites.
Read more »
Cuomo rules: New York’s new ethics panel looks to prevent another book scandalThe newly formed New York state ethics panel said Friday it will put safeguards in place that would prevent approval of any fat book contracts from a governor or statewide official without input fr…
Read more »
New Life New Friends awarded $150,000 grant for women’s programNew Life New Friends awarded $150k grant for women’s program, three other nonprofits receive $50k grants
Read more »
New Research Could Usher in a New Age of Solid-State BatteriesSilicon anodes have been known for decades but their performance remained poor. A solid-state battery could solve this problem once and for all.
Read more »
Top 10 Austin Comedy StoriesThe big news in Austin comedy this year includes new fests, new venues, and big returns.
Read more »