recession

In the Media

Wolfers: "This ain't a recession"

Jul 10, 2023 Marketplace

Justin Wolfers, Marketplace: Downbeat indicators don’t tell the whole story. Take consumers, said Justin Wolfers, an economics professor at the University of Michigan. They might say they’re pessimistic about the economy. “But if you look at what...

News

Stevenson’s expertise on the debt ceiling and global economy

Jun 26, 2023

Ford School economics professor Betsey Stevenson is widely tapped for her comprehensive knowledge of the state of the U.S. economy. When the debt ceiling deal was reached between President Biden and the GOP in Congress, she told NPR that the...

In the Media

Foreign Affairs asks Wolfers, "Are we headed toward recession?"

Mar 30, 2023 Foreign Affairs

Justin Wolfers, Foreign Affairs: "The economy definitely could fall into recession—there is always a risk—but it is worth remembering that it is never a certainty. The only time horizon over which economists have a good record in predicting...

Publication

November jobs report: Strong job growth continues, but there are hints of weakness

Dec 2, 2022

The U.S. labor market had yet another month of strong job growth, with employers adding 263,000 additional jobs in November. The report from the Bureau of Labor Statistics released Friday also showed that the unemployment rate remained at 3.7%....

In the Media

U.S. not in a recession, Wolfers tells WDIV

Oct 23, 2022 WDIV

Justin Wolfers, WDIV: "One level more complicated, and another level much simpler. Which is, as of right now, the U.S. economy is not in a recession. Last time we talked, the U.S. economy wasn't in a recession, and the U.S. economy hasn't been...

News

Wolfers to IMF: reasons for optimism amid uncertainty

Oct 19, 2022

Ford School professor Justin Wolfers, an expert economist, recently joined the International Monetary Fund as a panelist to discuss the current economy and how to boost resiliency. "I just wanted to offer a moment of rhetorical reframing because...

News

Stevenson analyzes uncertain markets

Aug 30, 2022

Ford School economics professor Betsey Stevenson has been commenting on the many confusions hitting the economy, given worries about inflation and recession, Fed interest rate hikes, and a shifting labor market. When the Job Openings and Labor...

News

Recession fears dim amid strong job numbers, falling gas prices, passage of Inflation Reduction Act - Ford School economists

Aug 11, 2022

The flurry of major and surprising economic news in the past week has changed the outlook on inflation and the possibility of recession. Ford School professor Betsey Stevenson was one of 126 top economists who wrote a letter to congressional...

News

Ford School economists weigh in on inflation and recession fears

Jul 28, 2022

News this week that GDP had contracted for the second quarter in a row, combined with the Fed’s interest rate hike and persistent inflationary pressure, are creating fear that the U.S. economy is headed towards recession. Yet the picture is...

Photo of a person's arm holding a gasoline pump nozzle in position as it dispenses fuel into a black vehicle

News

Stevenson and Wolfers widely quoted on inflation, recession fears

Jun 22, 2022

Fears of inflation and recession, the Fed interest rate hike, and the underlying causes, have been at the top of the news for several weeks. Ford School economics professors Betsey Stevenson and Justin Wolfers have been highly sought-after for their...

News

Stevenson balances inflationary pressure and employment in media commentary

Jun 3, 2022

The U.S. inflation rate continues to be at the highest levels in years, and the Fed has indicated it will raise interest rates to dampen those numbers. But taking action against inflation could hurt employment numbers, just when people are returning...

In the Media

Pilkauskas investigates accessibility of expanded Child Tax Credit

Apr 18, 2022 The New Yorker

The U.S. government's response to the 2020 recession was unprecedented. One of the most important areas was the expanded Child Tax Credit. Natasha Pilkauskas, associate professor of public policy, has studied who was able to access the program, and...

In the Media

'Not a single indicator that a recession is coming' - Wolfers

Apr 13, 2022 Los Angeles Times

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...

News

Stevenson and Wolfers discuss latest jobs report

Apr 4, 2022

The labor market is still booming, according to the latest jobs report. Justin Wolfers and Betsey Stevenson, both professors of public policy and economics, broke down what the jobs report means for Americans. "I do think it more likely that the...

News

Wolfers weighs in on war in Ukraine and inflation

Mar 14, 2022

Inflation continues to dominate headlines as Americans worry about rising prices everywhere from housing to the gas pump. Justin Wolfers, professor of public policy and economics, provided some insight into the state of the economy. "There’s no...

In the Media

Stevenson's insight on ending unemployment benefits

Sep 1, 2021 CNBC

This weekend, millions of Americans will lose their federal unemployment benefits. Betsey Stevenson, professor of public policy and economics, says that lawmakers need to consider employment effects, like decreases in spending. "People need the...

In the Media

More older workers exiting the labor market, says Stevenson

Aug 10, 2021 Bloomberg

The U.S. labor force continues to evolve as the economy recovers from the COVID-19 pandemic. Betsey Stevenson, professor of public policy and economics, explained how and why it has transformed in a recent Bloomberg interview. "We saw labor force...

In the Media

Wolfers debunks labor shortage with Don Lemon

Jun 22, 2021 CNN's Don Lemon Tonight

Justin Wolfers, professor of public policy and economics, sat down on CNN's Don Lemon Tonight to discuss the labor shortage that most believe the U.S. is currently experiencing. Wolfers had a different opinion. "I want to be careful about calling...

In the Media

Stevenson: Pandemic recession hits women harder than men for the first time

Sep 14, 2020 Crain's Detroit Business

"What's unusual is the initial stage of the recession impacted women more," said Stevenson. "What's normal in this recession is the ongoing negative effects tend to hit women. They face a double whammy, adding that to this massive child-care crisis...

News

Did the U.S. economy shrink by 32.9 percent?

Aug 4, 2020

The devastating GDP numbers announced at the end of July—a decline of 9-and-a-half percent—are the worst in American history, according to Ford School economics professor Justin Wolfers. The way the numbers are reported, that at an annualized rate...

News

Collins: If the U.S. economy gets sick, other countries could catch ‘pneumonia’

Aug 4, 2020

A segment on Marketplace on NPR, stated that the U.S. economy contributes more than half of the world’s stock market capitalization, accounts for over 15% of global GDP and is a crucial import market. U-M Provost and Ford School economics professor...

Ford School Policy Talk: Hope for economic recovery tied to health success

May 22, 2020

The U.S. and global economy will only recover when major improvements in healthcare and the ability to combat the coronavirus take hold. The crisis has exacerbated inequality along racial, ethnic and economic lines. This recession is unlike any...

Healthcare sector takes a hit amidst the broader economic downturn

May 1, 2020

The news released on April 30 that the U.S. economy had shrunk 4.8 percent in the first quarter of 2020 confirmed that the country is poised to experience a deep recession. The analyses of Ford School economists Betsey Stevenson and Justin Wolfers...

News

Michigan leaders worried about possible effects of next recession

Oct 30, 2019

ANN ARBOR—More than half of Michigan’s local government leaders are concerned about the potential impact of the next recession on their jurisdictions’ ability to deliver public services and maintain government operations. Although local leaders...

Justin Wolfers says expansions don’t necessitate recessions as long as there is good policy

Feb 15, 2019

Media outlets continue to search for red flags signaling the next recession, but for Professor Justin Wolfers there’s more reason for optimism. Wolfers was featured in a CNBC video titled “Justin Wolfers: Biggest risk to strong U.S. economy is Trump...

“Is student debt hampering the housing recovery?” No, says Dynarski in Brookings

May 4, 2016

“The striking gap in homeownership is not between college-educated people who did and did not borrow, but between those with and without a college education,” writes Susan Dynarski in “The dividing line between haves and have-nots in homeownership:...

Los Angeles Times interviews Justin Wolfers on fourth-quarter economic slowdown

Jan 30, 2013

In a recent Los Angeles Times article Justin Wolfers commented on fears of a new recession following news that the U.S. economy contracted in the fourth quarter of 2012. Total economic output shrank by 0.1% in the last three months of 2012, causing...

CLOSUP statewide survey: Local governments to cut services, want financing for economic development

Oct 22, 2009

Many local governments across Michigan expect to cut service levels in the next year, according to a new survey by the Center for Local, State, and Urban Policy, a research center at the University of Michigan's Gerald R. Ford School of Public...

State & Hill

The right place at the right time, unfortunately

Sep 16, 2009

National Poverty Center surveying effects of recession and federal stimulus on Southeast Michigan workers and families Long affected by the loss of well-paid manufacturing jobs, workers and families in Southeast Michigan have been hit especially...

U.S. macroeconomic policy: Steps toward recovery panel

Oct 22, 2009 1:19:43

Peter Borish, Charles Evans, Matthew Shapiro, Allen Sinai and moderator Susan Collins discuss the current economic crisis and possible economic recovery paths. Sponsored by the Ford School and the Department of Economics. October, 2009.