The David Lin Report Hiring Freeze Accelerates, Social Security Risks Insolvency | Mark Hamrick
Oct 27, 2025
Mark Hamrick, a Senior Economic Analyst at Bankrate, dives into pressing economic issues. He highlights a looming crisis with Social Security, predicting a 23% benefit cut by 2033 due to demographic shifts and funding challenges. The conversation also touches on the stalled job market, the threat of recession, and the impact of rising inflation on consumers. Hamrick emphasizes the urgent need for individuals to prepare for retirement shortfalls and discusses housing affordability challenges amid current economic trends.
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Expect A Fed Rate Cut Despite 3% CPI
- Expect the Fed to proceed with a 25 basis point cut amid market expectations despite a 3% CPI print.
- Hamrick notes Fed officials monitor market signals and may act to correct rate expectations.
Fed Focus Shifts Toward Labor Market Weakness
- The Fed weighs both inflation and a weakening job market, with employment concerns now prominent.
- Hamrick emphasizes the Fed's dual mandate and its focus on maximum employment alongside price stability.
Social Security Faces Near-Term Shortfall
- Social Security faces depletion around 2033 leading to automatic cuts near 20–25% if Congress does nothing.
- Mark Hamrick warns the longer policymakers wait, the harder the fix and greater the political pressure will become.