The Economy Is Weird. Two Experts on Where It Goes From Here.
If you’re confused about the current state of the economy and where it’s headed, you’re not alone. The United States is experiencing inflation at the highest rate since the 1980s, and most Americans generally feel as bad about the economy as they did during the Great Recession of 2008. At the same time, unemployment is low and wages are rising. On today’s episode of “The Argument,” host Jane Coaston consults two economics reporters to break down these conflicting trends in the economy and to ask the question so many people want answered: Are things going to get worse before they get better? Peter Coy is an Opinion writer for The New York Times. Alexandra Scaggs is a senior writer at Barron’s, where she covers bonds markets. Both have different takes on how the Federal Reserve can try to bring inflation down without long-term repercussions, including a recession. “There are people who would say, well, fine, that’s what needs to happen, if that’s what it takes to extinguish this high inflation, so be it,” Coy says. “And I’m just saying, I’m not willing to go that far.”