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Are We Really Heading Towards a Recession?
Are we heading towards a recession? Well, a lot of people think so and there might be a very good reason for it. Inflation, war, gas prices, etc… all these things make it look a lot like how things were back in 2008, when America saw one of history’s worst recessions.
The fact is, we were already seeing inflation at its highest point within the last four decades. Now, a horrible tragic invasion has taken place, with Russia swooping into Ukraine with troops, hurting and killing innocent civilians. These two countries are very important to the global supply chain for energy and agriculture.
While it’s certainly not the most important aspect of the violent conflict, it is the one people seem to want to talk about as it has a global impact. Yes, I’m talking about recession and it’s a very real possibility.
Obviously, the pandemic didn’t exactly help. Just before the virus hit, job openings in the United States was about 7.5 million… we’re now at 11 million.
However, despite the war and the pandemic, Federal Reserve Chair Jerome Powell said he isn’t worried about a recession. The U.S. economy is apparently strong enough to tackle interest rate hikes without a recession being a big issue.
Powell said: “The probability of a recession within the next year is not particularly…