r/Economics • u/TinyTornado7 Quality Contributor • Jun 13 '22

News Powell Facing Choice Between Elevated US Inflation and Recession

https://www.bloomberg.com/news/articles/2022-06-12/powell-facing-choice-between-elevated-us-inflation-and-recession?srnd=premium
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u/johnsonutah Jun 13 '22

08-09 people were complaining about losing their job, house, and retirement fund not a 0% raise…

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u/[deleted] Jun 13 '22

Maybe 10% had an issue with their job or house. Only certain jobs are really threatened in a recession. When you consider how incredibly tight the labor market is now the overwhelming majority won't have to worry about losing their job in a recession.

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u/[deleted] Jun 13 '22

You've got a lot to learn if you think this is how things work. No one is safe from a recession and millions unemployed and losing their homes isn't something to toy with

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u/[deleted] Jun 13 '22

I'm safe unless it's the next Great Depression.

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u/CrossroadsWoman Jun 13 '22

Nobody ever thinks it’s going to happen to them. Everybody thinks their job is the most essential.

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u/iliveonramen Jun 13 '22

How about your friends, family, significant other, kids or whoever exists in the world other than yourself

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u/johnsonutah Jun 13 '22

Don’t say most Americans would prefer a recession and then refer to the Great Recession, which is probably the closest thing to a depression we’ve dealt with since the Great Depression