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14min chapter
Harsh Truths About 2024 and the Future of the U.S. Economy
Plain English with Derek Thompson
Unforeseen Impacts of Interest Rate Hikes on the U.S. Economy
The chapter explores the surprising responses of the U.S. economy to significant interest rate hikes by the Fed, with trends like continued growth, low unemployment, and a strong stock market defying historical predictions of a recession. It delves into the reasons behind the robust car sales despite rising interest rates, attributing the trend to factors like pent-up demand, stimulus savings, and an aging car fleet. The conversation also touches on analyzing supply shocks, lessons from past economic recoveries, and the limitations of relying solely on monetary policy in addressing unique recessions like those induced by the pandemic.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode