Wolfers optimistic about soft landing for economy

February 17, 2023

As concerns about the economy continue, one economist is optimistic. Justin Wolfers, professor of public policy and economics, recently talked with NPR to discuss his economic analysis and predictions.

"You're talking to an economist who is going to be happy and tell you that I see really good things, and I'm not going to be miserable, and I'm not going to be dismal, and I want to celebrate the moment," Wolfers said. "In March 2020, unemployment was spiking to rates not seen since the Great Depression. If you had said in three short years we'll yield an unemployment rate that earlier generations of economists had said was impossible, I wouldn't have believed you."

Further, Wolfers believes that inflation will continue to decrease.

"Wolfers says jobs data is simply the most crucial and most telling data in an economy. After all, when the unemployment rate is low, people feel confident they can find a job if they need to: they spend, they invest, they ask for raises," NPR wrote. "Also, Wolfers says, as jobs were booming, inflation has been falling: it's dropped from more than 9% to about 6%. The soft landing, he says, has landed."

Read NPR's stories featuring Wolfers:

Is the economy headed for recession or a soft landing?NPR, February 17, 2023

Are we heading toward a recession? Here's why economists are dividedNPR, February 18, 2023