The economy is weird right now.
Inflation is high, but has leveled off. Gas prices are high, but have come back down from super high. Unemployment is still low. Housing costs are astronomical, but lots of companies are still offering remote jobs. Some industries are starting to see layoffs.
Depending on which definition you use, we're in a recession, we're about to be in a recession or we're nowhere near a recession. A good chunk of student loans are about to be forgiven, but anyone with a remaining balance has to start paying again in January. Last Friday, Fed Chairman Jerome Powell said he expects "some pain" in the U.S. economy as the central bank continues to make attempts to fight inflation, a warning that sent the Dow Jones Industrial Average down 1,000 points. A new survey out from Bankrate says nearly 7 in 10 Americans are worried about the economy entering a recession by the end of next year.
