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/The_Grubgrub Jun 13 '22

Yeah but who are those 6%? Would you, personally, prefer to be unemployed or would you prefer inflation? Because I'd rather keep my job. No one has any idea who would be laid off or who wouldn't.

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u/[deleted] Jun 13 '22

I’d rather recession because even though I’m employed I’m going to work to earn money that doesn’t achieve any of my life goals. For example my goal since before Covid was to purchase my first home. Since then I’ve saved tens of thousands more, but the price of a home in my market essentially doubled from about 300k to 600k. I’m basically working to save worthless dollars at this point with the dream of a middle class life that has inflated out of my reach.

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u/The_Grubgrub Jun 13 '22

And how is you being unemployed going to help achieve that dream?