How’s the economic system really doing?
In 2022, economists forecasted that we would be in a recession by now. Did it ever really occur, although? Costs acquired larger, rates of interest ticked up, however mass layoffs by no means actually occurred and gross domestic product growth chugged on. Folks largely weathered the turbulence.
Becoming a member of us at this time to speak about all that and to take a position on what results former President Donald Trump and Vice President Kamala Harris’ proposals might need on the economic system is Kyla Scanlon. She labored as a macroeconomic analyst at Capital Group earlier than founding Bread, a monetary training firm. She has constructed a big social media following by educating finance and economics by way of YouTube, Instagram, Substack, and TikTok. She lately revealed her first ebook In This Economy: How Money and Markets Really Work.
As we got here out of the pandemic, we skilled inflation past what most millennials have seen of their lifetimes. The Federal Reserve hiked rates of interest to aim to attain a smooth touchdown—utilizing the ability of the central financial institution to chill a sizzling economic system with out inflicting a recession. We begin by asking Kyla: “We’re in an election yr. How do you assume voters ought to understand the present state of our economic system?”
Sources referenced within the dialog:
- Monetary Occasions: 2022 prediction of a recession.
- Real Gross Domestic Product (GDPC1) | FRED | St. Louis Fed
- COVID did not rescue the Armageddonists from underperformance purgatory
- Just Asking Questions with Nate Silver
- University of Michigan: Consumer Sentiment (UMCSENT) | FRED| St. Louis Fed
- 12-month percentage change, Consumer Price Index
- FiveThirtyEight: Which Economic Indicators Best Predict Presidential Elections?
- Kyla Scanlon: Why We Have a Housing Crisis
- Homeownership rates among Gen Z, Millennials, and Gen X.
- Harris-Walz economic agenda press release
- Harris press release about her “$25k downpayment assistance” plan
- Kyla Scanlon: The TikTok Girl is Right: Modernity and the 9-to-5
- Producer: John Osterhoudt
