From soaring gas prices and inflation to the war between Russia and Ukraine, the US economy has seen all sorts of turmoil lately. But it wasn’t all bad news: the US unemployment rate hit a low of 3.6 percent in March and wages are rising. In this conversation, Kara Swisher asks economist and Nobel laureate Paul Krugman to put all of these factors into perspective. “It’s not an A++ economy,” says Krugman, but it’s “immensely better” than the economy during the 2008 financial crisis.
[You can listen to this episode of “Sway” on Apple, Spotify, Google or wherever you get your podcasts.]
Kara asks Krugman to take stock of the supply chain crisis, trillions of dollars in stimulus spending and other key economic agitators. They discuss whether low unemployment will lead to greater worker power and what that could mean for union efforts at companies like Amazon. And Krugman weighs how the federal government might help cool down an “overheated” economy.
(A full transcript of the episode will be available on the Times website at noon.)
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“Sway” was produced by Nayeema Raza, Blakeney Schick, Daphne Chen, Caitlin O’Keefe and Wyatt Orme and edited by Nayeema Raza; fact check by Kate Sinclair; music and sound design by Isaac Jones; Mixture of Carole Sabouraud and Sonia Herrero; Audience strategy by Shannon Busta. Special thanks to Kristin Lin and Kristina Samulewski.
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