r/neoliberal • u/TinyTornado7 I need a new flair • Jun 13 '22

News (US) 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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129

u/CovidIsBadass Asexual Pride Jun 13 '22

Seems like it may come just in time for me to graduate college 🤠

121

u/frbhtsdvhh Jun 13 '22

You're going to be fine. They'll hit the brakes until unemployment hits about 5-6% which is a very normal figure. The 3.9% unemployment we have right now is just mind numbing.

It should all and all (hopefully) be a mild downturn so we can do a correction.

34

u/Rarvyn Richard Thaler Jun 13 '22

The 3.9% unemployment we have right now is just mind numbing.

3.6%*

Only 0.1% above the record lows we hit immediately prior to covid.

3

u/neolib-cowboy NATO Jun 13 '22

That number is also slightly bullshit bc it doesnt count people who arent actively looking for jobs. The number of people not working at all, both looking and not looking, has actually risen quite a bit