With inflation running high, yet unemployment low, President Biden's approval rating has sunk, signaling the economic anxiety of Americans. In light of this, Justin Wolfers, professor of public policy and economics, discussed the economy and Americans' fears.
“There’s not a single indicator that a recession is coming,” said Justin Wolfers, an economist at the University of Michigan. “Every measure of economic activity shows growth. We’re running out of jobless people — a generation of economists would have dreamed of that. In normal times, we’d call this a boom. But we’re living through a generationally scarring moment. Things still feel so precarious, so it’s understandable people would feel a greater sense of economic risk, like their prosperity is fragile.”