The whine about everything, the stock market went down, it is Harris’s fault
The Stock Market bounces back; they take credit or stay quiet.
Inflation is high, it is the Democrats fault.
Recession lowers inflation. It is the Democrat’s fault.
Whiners, whine, and the whiniest is the orange man, also known as Donald Trump.
It’s not just the official data. Private surveys and general buzz also point to a softening economy. The appraisal of the labor market by consumers surveyed by the Conference Board has deteriorated, Amazon has warned that consumers seem cautious, and so on. None of this screams recession, but it does point to a rising risk of a near-future recession.
Am I 100 percent sure that we’ll have a recession unless the Fed moves quickly to cut rates? Of course not — nothing is certain in economics, or in life more generally. But policymakers who wait for perfect certainty before acting will always move too late.
So how did we get to this point? The Fed increased interest rates a lot in response to the 2021-22 surge in inflation. I didn’t oppose that move; I don’t think the Fed had a choice, given the perceived risk that inflation might become entrenched in the economy the way it did in the 1970s.