From The Atlantic.
The U.S. economic outlook is bleak, Atlantic assistant editor Marc Novicoff writes—but just how bad is it going to get? Novicoff breaks down what Americans can do if a recession really is around the corner:
“How to prepare for a recession depends on how well you were doing before Liberation Day,” Marc Novicoff writes. “Should tariffs rise to the degree that Trump promised, many Americans will find themselves saving as well as deferring their purchases.”
“Eventually, enough people hunkering down sends a signal that gets picked up, if not by politicians, then at least by central bankers at the Federal Reserve and its equivalents around the world, who will cut interest rates to spur businesses and consumers to spend once again,” Novicoff continues. This is when the stock market and the economy tend to turn around, the economist David Blanchflower told Novicoff. But government spending is usually part of the equation too. On that front, Blanchflower said, “nobody should have any faith.” Read the full story at the link.
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