Are we in a recession? Local economists weigh in on the outlook for Charlotte's economy
Every once in a while, our economy goes into recession. Some are worse than others. No recession is good news and right now we may be headed for one. Economists are mixed in their views, but the GDP just fell for a second straight quarter, the usual definition of recession.
Meanwhile, we’re all experiencing something undeniable: inflation. The Fed is working to get that under control. They’re raising interest rates to cool the economy and that, too, can lead to an economic slowdown.
We hear from a number of economists about where we are, where we might be headed and what a recession could mean for you, your job and your wallet.
Dr. Michael Walden, economist and Reynolds Distinguished Professor Emeritus at North Carolina State University
Dr. John Connaughton, economist at UNC Charlotte and director of the UNC Charlotte Economic Forecast
Mark Vitner, managing director and senior economist at Wells Fargo