U.S. To Hit Grim Milestone
This isn’t good.
It is now being predicted that the United States is soon expected to hit a 1950s-style unemployment crisis.
According to Reuters, The U.S. is now following a similar pattern to that of the 1950’s. Experts believe that the falling unemployment rate could eventually lead America into a recession.
Furthermore, they explained that the Federal Reserves will be taxed with these unemployment issues while also dealing with red hot inflation.
St. Louis Fed President James Bullard recently warned that the U.S. unemployment rate could fall below 3% this year which would directly resemble what happened in the 1950s.
University of Oregon professor Tim Duy noted, “Such a low unemployment rate is “a red flare” that the economy is overheating, with fast price and wage increases that are unavoidable and the U.S. central bank pushed to be more aggressive. I don’t see where there is a good way out that tames inflation without triggering a recession and the associated jump in unemployment.”
