Source: Paul Krugman
by Paul Krugman
“The U.S. economy is in a weird place right now on multiple fronts. One immediate problem is that policymakers are flying somewhat blind because the government shutdown has delayed the September employment report. According to the last report available (which was for August), unemployment is relatively low by historical standards. But another source of weirdness is that many people feel very bad about the economy: Consumer sentiment is much weaker than it was pre-Covid, in fact comparable to its level at the depths of the 2008-2009 financial crisis.” (10/222/25)
https://paulkrugman.substack.com/p/the-us-economy-is-in-worse-shape