It’s getting wild.
We’re already hearing a lot of loose talk about the economy this week, with the Federal Reserve scheduled to raise interest rates again on Wednesday to fight inflation and the government possibly sending a false alarm on Thursday about the economy falling into a recession.
William Watts: Stock-market investors face crucial week: Fed, earnings deluge, GDP
Naturally, you have a lot of questions: Is the economy in a recession? Will the inflation rate ever come down? Will you lose your job? Is it Joe Biden’s fault?
The answers are: Not yet, not right away, hopefully not, and not really.
Right on the economics, wrong on the politics
First, let’s dispose of the idea that the economy could already be in a recession, based on the minus 1.6% growth in the first quarter and the possibility that Thursday’s GDP report will also show a contraction in the second quarter.
Many…
