Inflation is at its highest point in decades, gas prices have gone up, and the war in Ukraine has threatened the global price of goods. The cost of borrowing has risen, and stock prices have taken a tumble recently.
This all has led to concern from economists.
Federal Reserve Chair Jerome Powell said the central bank is looking at several options to curb inflation. That includes raising interest rates. However, higher rates risk weakening the economy to the point of another recession.
As of now, many economists agree the risk of a recession any time soon is low. Consumers are still spending, and the unemployment rate is back to pre-pandemic lows. However, higher inflation could hurt wage growth. That means consumers could cut back on spending.
On the next Charlotte Talks, Mike Collins and our panel of guests dive into where the economy is now, what the debate over inflation looks like and how worried people should be about a potential economic downturn.
GUESTS
Mark Vitner, managing director and senior economist at Wells Fargo Corporate & Investment Banking
John Connaughton, director of the UNC Charlotte Economic Forecast
Michelle Singletary, nationally syndicated personal finance columnist at The Washington Post
