Understanding the economy is a complicated task -- and even the experts are struggling to answer seemingly simple questions like “Are we on the brink of a recession?”
Understanding the economy is a complicated task, and even the experts are struggling to answer seemingly simple questions like “Are we on the brink of a recession?” or “Why isn’t inflation falling faster?” Many have resorted to the use of metaphor to convey the current complexity of the economy. It’s a communications tactic that some Federal Reserve officials have long favored.
” Do people need to lose jobs to bring down inflation? Last week Senator Elizabeth Warren grilled Federal Reserve Chair Jerome Powell about American job losses being potential casualties of the central bank’s battle against high inflation. Warren, a frequent critic of the Fed’s leader, noted that an additional 2 million people would have to lose their jobs if the unemployment rate rises from its current 3.6% rate to reach the Fed’s projections of 4.6% by the end of the year.
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