The NPR Politics Podcast More Jobs, Bigger Paychecks... And The Risk Of Recession?
May 6, 2022
Job growth is on the rise, but rising costs are eating away at paychecks. The Federal Reserve is stepping in, balancing the risk of recession. Meanwhile, the January 6th investigation heats up with guilty pleas from far-right leaders. Expect gripping testimonies in upcoming public hearings. On a lighter note, Keanu Reeves makes an unexpected foray into journalism, linking teddy bears to his film legacy, while the glamour of the Met Gala showcases Blake Lively's stunning transformation. Plus, a nod to Judge Judy's lasting cultural impact.
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Strong Job Growth and Inflation Concerns
- The U.S. economy added 428,000 jobs in April 2022, marking 12 months of 400,000+ job growth.
- Despite this positive trend, the job market's strength worries the Federal Reserve due to its potential impact on inflation.
Wage Growth and Inflation
- Wage growth is not keeping up with inflation, but it's still high enough to concern the Fed.
- The Fed worries that rising wages could further increase inflation.
Stock Market Rollercoaster
- The stock market reacted dramatically to the Fed's interest rate hike, showcasing economic uncertainty.
- The market initially soared but then crashed the following day.