Wolfers says recession worries are overstated

May 12, 2022 ABC Australia

The inflation rate in April in the U.S. was 8.3%, slightly down from the previous month. As the Fed addresses the issue, there is worry that stringent measures could cause a recession. Speaking to ABC Australia, Ford School professor Justin Wolfers said the economy's current strength should alleviate those fears.     

"Unemployment is 3.6%; the U.S. economy is creating 400,000 jobs a month. In normal times we would call that a boom. The reality is that the economy is in a good place, and it's getting better... so it's hard tro see a recession any time soon," he said.