What A Day If Not A Recession, Why Does It Feel Like One?
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Nov 7, 2025 
Stacy Vanek Smith, a reporter for Bloomberg Businessweek and co-host of Everybody’s Business, dives into the pressing issues of the economy and affordability. She discusses the peculiar feeling of recession among Americans despite positive data and explains the K-shaped recovery, highlighting how different groups are experiencing economic divergence. Smith also examines AI's uncertain impact on jobs, the significance of affordability in recent elections, and how political narratives affect public perception. Expect insights on the Fed's challenges and legislative responses to ongoing crises.
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Two Economies, One Country
- The economy is splitting into parallel experiences where gains concentrate at the top and pain concentrates at the bottom.
- Stacey Vanek-Smith calls this a K-shaped recovery driven by AI and market gains that leave many workers behind.
AI Fuels Concentrated Gains
- AI and market winners power a rising upper arm of the economy while most workers see stagnant or falling real incomes.
- Stacey notes 10% of the population fuels half of all spending, amplifying inequality.
Pandemic Wage Gains Haven’t Lasted
- Low-wage workers saw wage gains during the pandemic but those gains have reversed and now rarely keep up with inflation.
- Stacey emphasizes that rising prices erode the real value of earlier raises for vulnerable workers.