No Recession Now, and None Likely Soon, Experts Say
Despite over half of Americans believing the US is in a recession, experts disagree. Polls show people think the economy is shrinking, influenced by media coverage and personal experiences of inflation and the housing market. However, data shows the economy is still growing.
Key points:
- GDP Growth: The US GDP continues to grow, albeit more slowly.
- Low Unemployment: The unemployment rate remains historically low at around 3.9%.
- Inflation: While inflation is higher than before, it’s under 4% and has decreased since 2021 and 2022.
- Stock Market: The S&P 500 has generally been rising.
Experts like David Kelly, Eugenio Alemán, and Gregory Daco agree that while economic challenges exist, a recession is not imminent. The “misery index” (inflation plus unemployment) is better than it has been most of the time over the past 60 years.
Concerns remain, such as high interest rates and fluctuating housing market sales. However, overall, the economy is stable, and experts don’t foresee a recession soon.
Resource
Hey, America, Here’s What’s Actually Going on With the Economy (businessinsider.com)
I agree the media is an issue when it comes to properly reporting on the state of the economy. Perception is reality, unfortunately, and everyone that can no longer afford the amount of food they could before really doesn’t care that we’re not actually in a recession. What they see is they can’t buy food. Personally, a good majority of the companies are at fault as they post record profits while average Americans struggle to make ends meet. They should be ashamed.