Economics Professor: Additional Inflation Could Lead to Recession.
Warnings are growing that decreased consumer spending motivated by increasing interest rates will eventually drive the U.S. economy into a recession.
I would like to share the insights and analysis by Mr. Ethen Kim Lieser, a Washington state-based Finance and Tech Editor who has held posts at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV.
The latest consumer price index (CPI) was found to have climbed nearly 9 percent year-over-year, hitting the fastest inflation rate since way back in December of 1981, according to Labor Department data.
While some experts have come forward to state that inflation may have already peaked or will ease going forward, it appears that Brian Brenberg, the King’s College executive vice president of business and economics, isn’t buying into those sentiments. In fact, he is predicting that when April’s inflation numbers come out next week, it will show that inflation has continued to rage on and will likely tip the country into a recession.
