If Employment Rate Tanks, Recession Next?

As WSJ warned gas & food prices will keep inflating, even more rapidly, it now also reports “Higher Unemployment Rate Looms.” So, are we looking at the new Jimmy Carter stagnation & inflation norm? If true, can a recession far behind?

It gets tiring to hear from the paper, as good as it is in reading the business tea leaves, how all this economic woe that's piling up almost daily now is affecting Americans while “the Fed fights inflation”, most recently, by upping interest rates .75%, the largest bump in years. Truth be told (as the editorial board has argued at times), the Fed SHOULD HAVE BEEN FIGHTING THE OBVIOUS INFLATIONARY SIGNALS A YEAR AGO so we'd be coasting by now. That is, AS Biden and Congress spent TRILLIONS of printed paper dollars to supposedly fight the imploding economy THAT THEY SHUT DOWN to supposedly fight COVID-19, even though many warned the economic cure might be worse than the disease.

But, there you have it. Now, instead of a “transitory” inflation the Fed had insisted on predicting and, therefore, hoped for a mild if any recession, we’re told “central-bank officials shift views from last year, when they sought a fast labor-market recovery.” If these economic gurus keep guru-ing like this, no telling how bad Jimmy Carteritis is going to get?

Davd Soul